Ch. 2 Quiz Larry Bar opened a frame shop and completed these transactions: 21 1. Larry started the shop by investing $41,500 cash and equipment valued at $19,500. 2. Purchased $220 of office supplies on credit 3. Paid $2,700 cash for the receptionist's salary 4. Sold a custom frame service and collected $6,000 cash on the sale. Skipped 5. Completed framing services and billed the client $350 What was the balance of the cash account after these transactions were posted? Multiple Choice $10,580. $10,930. $44,800. $44,930. $45,150
Ch. 2 Quiz Larry Bar opened a frame shop and completed these transactions: 21 1. Larry started the shop by investing $41,500 cash and equipment valued at $19,500. 2. Purchased $220 of office supplies on credit 3. Paid $2,700 cash for the receptionist's salary 4. Sold a custom frame service and collected $6,000 cash on the sale. Skipped 5. Completed framing services and billed the client $350 What was the balance of the cash account after these transactions were posted? Multiple Choice $10,580. $10,930. $44,800. $44,930. $45,150
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:Ch. 2 Quiz
Larry Bar opened a frame shop and completed these transactions:
21
1. Larry started the shop by investing $41,500 cash and equipment valued at $19,500.
2. Purchased $220 of office supplies on credit
3. Paid $2,700 cash for the receptionist's salary
4. Sold a custom frame service and collected $6,000 cash on the sale.
Skipped
5. Completed framing services and billed the client $350
What was the balance of the cash account after these transactions were posted?
Multiple Choice
$10,580.
$10,930.
$44,800.
$44,930.
$45,150
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