1. If total liabilities decreased by $29600 and owners equity decreased by $19900 during a period of time, then total assets must change by what amount and direction during that same period?

$49500 increase

$49500 decrease

$9700 decrease

$9700 increase

6. Oriole Company purchased equipment for $8880 on January 1, 2020. The company expects to use the equipment for 4 years. It has no salvage value. Monthly depreciation expense on the asset is

$0.

$185.

$8880.

$2220.

19. In the month of November, Crane Company Inc. wrote checks in the amount of $27720. In December, checks in the amount of $37979 were written. In November, $25406 of these checks were presented to the bank for payment, and $32659 were presented in December. No checks were outstanding at November 1. What is the amount of outstanding checks at the end of December?

$56132

$17512

$7634

$5320

20. Sheffield Company has a debit balance of $5140 in its Allowance for Doubtful Accounts before any adjustments are made at the end of the year. Based on review and aging of its accounts receivable at the end of the year, Sheffield estimates that $70000 of its receivables are uncollectible. The amount of bad debt expense which should be reported for the year is:

$70000.

$64860.

$5140.

$75140.