10. FINANCIAL STATEMENTS: In the income statement if total revenues are 30,000 and the net income is 5,000 how much are the total expenses? A. 40.000 B. 30,000 C. 20,000 D. 10,000 E. None of the above 11. FINANCIAL STATEMENTS: Which financial statement shows why the balance in cash changed from the end of last year to the end of this year? A. Income Statement B. Statement of Owner's Equity C. Balance Sheet D. Statement of Cash Flow E. None of the above 12. JOURNAL ENTRIES: Company X currently has a balance in Allowance for Bad Debts of $5,000. Company X's aging schedule indicates that the balance in the Allowance for Bad Debts should be $9.000. What is the adjusting journal entry to increase the balance in the Allowance for Bad Debts to $9.KI! A. Dr. Bad Debts Expense 9,000. Cr. Allowance for Bad Debts 9.000 B. Dr. Allowance for Bad Debis 9.000; Cr. Bad Debts Expense 9,000 C. Dr. Bad Debts Expense 4.0X10: Cr. Allowance for Had Debts 4,000 D. Dr. Allowance for Bad Debts 4.000: Cr. Bad Debts Expense 4,000 E. None of the above 13. BANK RECONCILIATION: What type of account is bank expense? A. Asset B. Liability C. Equity. Capital D. Equity--Revenue E. Equity-Expense 14. FINANCIAL STATEMENTS: What is the correct sequence from first to last in which the following four financial statements are prepared: (1) Balance Sheet (2) Statement of Cash Flow (3) Income Statement and (4) Statement of Owner's Equity A. 1-2-3-4 B. 3-4-1-2 C. 4-3-2-1 D. 3. 1-2-4 E. None of the above 15. BANK RECONCILIATION: If a bank reconciliation is done correctly, the adjusted bank balance and the adjusted book balance will? A. Be the same amount B. The adjusted bank balance will always be more than the adjusted book balance C. The adjusted bank balance will always be less than adjusted book D. The adjusted bank balance is never the same as the adjusted book balance E None of the above