Nelson Company Began Operations on December 1, Year 1

question 4

Multiple Choice

Nelson Company began operations on December 1, Year 1. The following transactions and adjustments were recorded in December and posted to the company's ledger accounts:
1) Acquired $9,000 cash from the issue of common stock to its stockholders.
2) Provided services on account for $7,500.
3) Paid $4,500 cash for land.
4) Owed $3,000 of salaries expenses to employees for work done in December that will be paid during January.
5) Purchased $900 of supplies on account to be used in January.
6) Collected $3,900 from customers.


What is the total of the debit account balances that will be reported on the company's adjusted trial balance at December 31,Year 1?

---

Definitions:

Cultural Factors

Elements of a culture that influence the thoughts, behaviors, and practices of its members, including norms, values, and beliefs.

Racial Group

A racial group is a group of people classified or categorized based on physical characteristics, often skin color, that are considered by society to define a race.

Genetic Heritage

The genetic makeup and information passed down from ancestors, influencing physical and sometimes behavioral traits.

Common Culture

A shared set of cultural norms, values, and practices that bind a community or society together.