Following Are Transactions of Gotebo Tanners,Inc

question 48

Multiple Choice

Following are transactions of Gotebo Tanners,Inc. ,a new company,during the month of January: 1.Issued 10,000 shares of common stock for $15,000 cash.2.Purchased land for $12,000,signing a note payable for the full amount.3.Purchased office equipment for $1,200 cash.4.Received cash of $14,000 for services provided to customers during the month.5.Purchased $300 of office supplies on account.6.Paid employees $10,000 for their first month's salaries.What was the balance of Gotebo's Cash account following these six transactions?

• A)$29,800.
• B)$19,300.
• C)$17,800.

Apply budgeting principles in various organizational contexts (i.e., businesses and non-profit organizations).

Differentiate between different budgeting techniques and their application in the private and public sector.

Analyze financial performance based on budgeted vs. actual outcomes.

Understand the importance of flexible budgeting and its impact on operational efficiency.

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Definitions:

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, radically changing manufacturing processes, society, and the global economy.

Domestic System

A production system prevalent before the Industrial Revolution, where manufacturing was done in homes rather than in centralized factories.