The Controller for Tires and More,Inc

question 56

Multiple Choice

The controller for Tires and More,Inc.has recorded the following transactions during the month: the purchase of equipment for $8,500 cash;payment of $6,300 for 3 months of rent;and,collection of $2,400 from a customer for services performed.At the beginning of the month the company was established by selling 10,000 shares of stock to the public for $15,000 cash.What is the balance in the Cash account at the end of the month,and is the balance a debit or a credit?

• A)$2,600 debit.
• B)$2,600 credit.
• C)$6,800 debit.
• D)$15,200 debit.

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Definitions:

Physical Health

The condition of a person's body, including the absence of illness or injury and the overall physical fitness and wellness.

Sleep

A natural state of rest for the body and mind that involves the reversible loss of consciousness.

Controlled Processes

These are cognitive activities that require active mental effort, attention, and are often executed with intention.

Automatic Processes

Cognitive activities that require little thought and can be performed without conscious effort or attention.