1. The purchase of land for a combination of cash and issuance of shares would require which of the following?

a	increase in Land, increase in Common Shares, increase in Cash

b	increase in Cash, decrease in Common Shares, decrease in Land

c	increase in Land, increase in Common Shares

d	increase in Land, increase in Common Shares, decrease in Cash

2. During a recent week, McMunn Legal Services received $25,000 cash from clients for services performed with a total value of $75,000. The balance is to be received within 30 days. The effect on the Statement of Financial Position equation for this transaction would be

a. + $25,000 Cash = $50,000 Accounts Payable + $75,000 Retained Earnings.

b	+ $25,000 Cash $50,000 Accounts Receivable = $75,000 Retained Earnings.

c	+ $25,000 Cash + $50,000 Accounts Receivable = + $75,000 Retained Earnings.

d	+ $25,000 Cash = + $25,000 Retained Earnings.