1 if total liabilities increased by $42,000 during a period of time and stockholders' equity decreased by $18,000 during the same period, then the amount and direction (increase or decrease) of the period's change in total assets is ain) d ut of Select one: a. $42,000 increase JON b. $60,000 increase c. $24,000 decrease d. $24,000 increase F 2 During the year, a firm reported an increase in liabilities of $ 34,700. For the year, revenues were $131,800, expenses were $196,700, and dividends were $73,000. During the year, $17,000 in common stock was issued. No other equity transactions occurred. What was the decrease in assets for the year? tot Select one: a. $43,600 b. $173,400 c. $155,600 d. $25,800 e. $86,200 3 if Accumulated Depreciation has a normal ending balance of $29,000, credit postings of $22,000, and a normal beginning balance of $24,000, what were the debit postings? of Select one: a. $36,000 b. $22,000 c. $17,000 d. $ 31,000 e. $27,000 n4 Working capital is ad out of Select one: a. Calculated by dividing current assets by current liabilities. b. Used to evaluate a company's liquidity and short-term debt paying ability. c. Used to evaluate a company's solvency and long-term debt paying ability. d. Calculated by subtracting current assets from current liabilities, an 5 Use this information to answer the following question. ed Jan. 1 Inventory 15 units @ $4.00 out of 8 Purchase . on 60 units @ $4.40 17 Purchase 30 units @ $4.20 25 Purchase 45 units $4.80 Total sales 100 units Assuming that a periodic inventory system is used, what is cost assigned to ending inventory under FIFO? Select one: a $452 b. $429 c. $214 d. $237 6