Petras Company Engaged in the Following Transactions During 2012, Its

question 89

Multiple Choice

Petras Company engaged in the following transactions during 2012, its first year in operations: (Assume all transactions are cash transactions)
1) Acquired $950 cash from the issue of common stock.
2) Borrowed $420 from a bank.
3) Earned $600 of revenues.
4) Paid expenses of $250.
5) Paid a $50 dividend.
During 2013, Petras engaged in the following transactions: (Assume all transactions are cash transactions)
1) Issued an additional $325 of common stock.
2) Repaid $220 of its debt to the bank.
3) Earned revenues of $750.
4) Incurred expenses of $360.
5) Paid dividends of $100.
The total in Petras' retained earnings account BEFORE closing in 2012 is

• A) $0.
• B) $300.
• C) $350.
• D) none of these.

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Definitions:

Duration Recording

A method of behavioral observation that records the total time a specific behavior occurs within a given period.

Total Duration

The complete amount of time taken for a specific event or activity to occur from start to finish.

Duration Per Occurrence

A type of duration recording that involves recording the length of time per episode that a student engages in a target behavior.

Average Duration

A type of duration recording that produces only one number to graph. In this approach, the durations of each episode of a target behavior are added together and divided into the total number of times the behavior occurred.