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.

---

Definitions:

Incident

An event or occurrence, especially one that is unexpected or disrupts normal operations or procedures.

Organizational Culture

The shared values, beliefs, and practices that characterize an organization and influence its members' behaviors.

National Culture

The set of values, beliefs, behaviors, customs, and attitudes that characterize a society or country.

Societal Norms

The rules, behaviors, and standards considered acceptable and normal within a society or community.