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1, Assets total $50,000 and Liabilities total $10,000. What is the equity of the business? $4,000 $40,000 $400 $40 None of the above 2, Which

1,

Assets total $50,000 and Liabilities total $10,000. What is the equity of the business?

$4,000

$40,000

$400

$40

None of the above

2,

Which of the following accounts would not appear on the income statement?

Professional fees earned

Unearned consulting revenue

Dividends

Office supplies expense

B and C

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