The following information pertains to Harvey's personal financial transactions. Opening Balances - May 1, 2022 Cash Contents of Home Automobile House Unpaid Accounts Bank Loan Net Worth $14,500 $2,300 $23,000 $151,500 $6,900 $55,400 $129,000 Transactions for the month of May 2022 are as follows. 1. Paid maintenance for the month of May with $900 cash. 2. Purchased a new TV worth $2,700 with cash. 3. Paid credit card liability of $6,290. After recording the transactions in the related T-accounts, what would the balance of Cash, Unpaid Accounts, Contents of Home, Bank Loan, and Net Worth be at May 31, 2022, respectively? Select one: a. $4,610, $6,290, $5,000, $55,400 and $129,000. Ob. $14,500, $6,290, $2,300, $55,400 and $129,000 c. $4,610, 9610, $5,000, $55,400 and $128,100. d. $10,900, $610, $5,000, $55,400 and $128,100.
The following information pertains to Harvey's personal financial transactions. Opening Balances - May 1, 2022 Cash Contents of Home Automobile House Unpaid Accounts Bank Loan Net Worth $14,500 $2,300 $23,000 $151,500 $6,900 $55,400 $129,000 Transactions for the month of May 2022 are as follows. 1. Paid maintenance for the month of May with $900 cash. 2. Purchased a new TV worth $2,700 with cash. 3. Paid credit card liability of $6,290. After recording the transactions in the related T-accounts, what would the balance of Cash, Unpaid Accounts, Contents of Home, Bank Loan, and Net Worth be at May 31, 2022, respectively? Select one: a. $4,610, $6,290, $5,000, $55,400 and $129,000. Ob. $14,500, $6,290, $2,300, $55,400 and $129,000 c. $4,610, 9610, $5,000, $55,400 and $128,100. d. $10,900, $610, $5,000, $55,400 and $128,100.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am. 004.
Transcribed Image Text:The following information pertains to Harvey's personal financial transactions.
Opening Balances - May 1, 2022
Cash
Contents of Home
Automobile
House
Unpaid Accounts
Bank Loan
Net Worth
$14,500
$2,300
$23,000
$151,500
$6,900
$55,400
$129,000
Transactions for the month of May 2022 are as follows.
1. Paid maintenance for the month of May with $900 cash.
2. Purchased a new TV worth $2,700 with cash.
3. Paid credit card liability of $6,290.
After recording the transactions in the related T-accounts, what would the balance of Cash, Unpaid Accounts,
Contents of Home, Bank Loan, and Net Worth be at May 31, 2022, respectively?
Select one:
O a. $4,610, $6,290, $5,000, $55,400 and $129,000.
b. $14,500, $6,290, $2,300, $55,400 and $129,000
c. $4,610, $610, $5,000, $55,400 and $128,100.
d. $10,900, $610, $5,000, $55,400 and $128,100.
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