Zed Bennett Opened an Art Gallery and as a Dealer

question 128

Multiple Choice

Zed Bennett opened an art gallery and as a dealer completed these transactions: Started the gallery, Artery, by investing $40,000 cash and equipment valued at $18,000.
2) Purchased $70 of office supplies on credit.
3) Paid $1,200 cash for the receptionist's salary.
4) Sold a painting for an artist and collected a $4,500 cash commission on the sale.
5) Completed an art appraisal and billed the client $200.
What was the balance of the cash account after these transactions were posted?

• A) $12,230.
• B) $12,430.
• C) $43,300.
• D) $43,430.
• E) $61,430.

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Definitions:

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Buzz

Informal communication or excitement surrounding a product, service, or event, often seen as a form of marketing.

Word of Mouth

The informal transmission of information, opinions, or recommendations from person to person.

Highest Resources

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