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A Business Has the Following Transactions: the Business Is Started

Question 49

Multiple Choice

A business has the following transactions: The business is started by receiving $20 000 from the owner.The business purchases $500 in supplies on credit.The business purchases $2 000 in furniture on credit.The business renders services to various clients totalling $9 000 on credit.The business pays out $2 000 for Salary expense and $3 000 for Rent expense.The business pays $500 to a supplier for the supplies purchased earlier.The business collects $1 500 from one of its clients for services rendered earlier in the month.At the end of the month,all journal entries are posted to the ledger.The Cash account will appear as follows:


A)
A business has the following transactions: The business is started by receiving $20 000 from the owner.The business purchases $500 in supplies on credit.The business purchases $2 000 in furniture on credit.The business renders services to various clients totalling $9 000 on credit.The business pays out $2 000 for Salary expense and $3 000 for Rent expense.The business pays $500 to a supplier for the supplies purchased earlier.The business collects $1 500 from one of its clients for services rendered earlier in the month.At the end of the month,all journal entries are posted to the ledger.The Cash account will appear as follows: A) B) C) D)
B)
A business has the following transactions: The business is started by receiving $20 000 from the owner.The business purchases $500 in supplies on credit.The business purchases $2 000 in furniture on credit.The business renders services to various clients totalling $9 000 on credit.The business pays out $2 000 for Salary expense and $3 000 for Rent expense.The business pays $500 to a supplier for the supplies purchased earlier.The business collects $1 500 from one of its clients for services rendered earlier in the month.At the end of the month,all journal entries are posted to the ledger.The Cash account will appear as follows: A) B) C) D)
C)
A business has the following transactions: The business is started by receiving $20 000 from the owner.The business purchases $500 in supplies on credit.The business purchases $2 000 in furniture on credit.The business renders services to various clients totalling $9 000 on credit.The business pays out $2 000 for Salary expense and $3 000 for Rent expense.The business pays $500 to a supplier for the supplies purchased earlier.The business collects $1 500 from one of its clients for services rendered earlier in the month.At the end of the month,all journal entries are posted to the ledger.The Cash account will appear as follows: A) B) C) D)
D)
A business has the following transactions: The business is started by receiving $20 000 from the owner.The business purchases $500 in supplies on credit.The business purchases $2 000 in furniture on credit.The business renders services to various clients totalling $9 000 on credit.The business pays out $2 000 for Salary expense and $3 000 for Rent expense.The business pays $500 to a supplier for the supplies purchased earlier.The business collects $1 500 from one of its clients for services rendered earlier in the month.At the end of the month,all journal entries are posted to the ledger.The Cash account will appear as follows: A) B) C) D)

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