Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. marco nelson opened a frame shop and completed the

Marco Nelson opened a frame shop and completed these transactions: Sold custom frames and immediately...

80.2K

Verified Solution

Question

Accounting

Marco Nelson opened a frame shop and completed these transactions:

Sold custom frames and immediately collected $41,600 cash for the sale.

Purchased $230 of office supplies on credit.

Paid $2,800 cash for the receptionist's salary.

Sold a custom frame service and collected $6,100 cash on the sale.

Completed framing services and billed the client $360.

What was the balance of the cash account after these transactions were posted?

Multiple Choice

$45,260.

$10,830.

$10,470.

$44,900.

$45,030.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

As a result of the mortgage crisis, many banks reported record losses to their mortgage receivables...

Accounting
Q

(a) Devise and then describe a method to systematically list all rational numbers between 0 and...

Advance Math
Q

A production facility heats various equipment using a network of heated air and water vapor lines....

Chemistry
Q

a) How to measure current with an oscilloscope? Describe by drawing a figure. b) Describe how...

Electrical Engineering
Q

For the native peoples in the puget sound region, describe the 5 most important things...

Biology
Q

What is an ecological footprint and how is it related to an area of land

Biology
Q

Assume that thermometer readings are normally distributed with a mean of 0 C and a...

Statistics
Q

Graph the function Find any relative maxima or minima write the ordered pair for each...

Algebra
Q

ide 4x 4x 2 3 X 2 4x 4x 3 x 2 Simplify your ansv

Algebra
Q

Now that you have completed the June bank reconciliation process, you are asked to complete...

Accounting
Q

Which statement is true regarding the trial balance and audit trial:A) The trial balance exists...

Accounting
Q

answers are given below. also use 360 days in a year so that answer will...

Finance