[The Following Information Applies to the Questions Displayed Below

question 31

Multiple Choice

[The following information applies to the questions displayed below.]
The following transactions occurred during March,the first month of operations for Quality Galleries,Inc.:
* Capital stock was issued in exchange for $360,000 cash.
* Purchased $180,000 of equipment by making a $60,000 cash down payment and signing a note payable for the balance.
* Made a $35,000 cash payment on the note payable from the purchase of equipment.
* Sold a piece of equipment for cash of $18,000.The equipment was sold at cost,so there is no gain or loss on the sale.
-What are total assets of Quality Galleries at the end of March?

• A)$283,000
• B)$162,000
• C)$445,000
• D)$480,000

---

Definitions:

Theorist

An individual specializing in the development of theories, often within a specific domain such as science or philosophy.

Bilingualism

The ability of an individual to use two languages effectively, often characterized by fluency in speaking, reading, and writing in both languages.

More Than One Language

The ability or practice of a person to communicate effectively in multiple languages.

Learning Theory Approach

An educational methodology focusing on the understanding and application of how people learn, emphasizing behavior, cognition, and motivation.