10. A Company issued common stock to investors and received $10,000. Choose the TRUE statement

A. For this transaction, cash increases and common stock decreases.

B. The journal entry to record this transaction will include a credit to cash.

C. For this transaction, cash increases and common stock increases.

D. The journal entry to record this transaction will include a debit to common stock.

14. For the adjusting journal entry to record the use of supplies, which statement is true?

A. supply expense increases and supplies decrease

B. supply expense decreases and supplies increase

C. Debit supply expense and credit supply payable D. Debit supplies and credit supply expenses

A company reported the following information at December 31, Year 1:

Accounts Payable	$ 4,500
Wages Payable	2,450
Accounts Receivable	9,350
Cash	23,490
Inventory	31,200
Common Stock	90,000
Equipment	49,500
Notes Payable due December 31, Year 3	2,500
Retained Earnings, December 31, Year 1	14,090

22. Use the information above to answer the following question. What is the amount of current assets on the classified balance sheet?

A.$113,540.

B.$64,040.

C.$32,840.

D.$82,170.