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10.r@ktas company borrowed $ 7,000 cash from the Trust Bank. As a result of this transaction, a. assets would decrease by $ 7,000 b. liabilities

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10.r@ktas company borrowed $ 7,000 cash from the Trust Bank. As a result of this transaction, a. assets would decrease by $ 7,000 b. liabilities would increase by $ 7,000 c. shareholders' equity would increase by 7,000 d. revenue would increase by 7,000 11.What is the normal balance in each of these accounts? (Use the following abbreviations to answer this question; D-Debit, C- Credit) 1.................... Bank deposit 2- ..Accounts payable 3. ..Capital 4- ..Retained earnings 5......... ...Accounts receivable 6-....................Cash 7... Inventory 8-.. Prepaid insurance 9. Bank loan 10- Sales revenue 12.Classify the items listed (1 to 5) under the following balance sheet headings: A- Assets L- Liabilities SE-Shareholders' Equity 1- ..........Cash 2-........... ...Capital 3- ..Equipment ..Accounts payable 5-..................Retained earnings - 11- (15 p.) 1. The following accounts and balances were taken from the financial statements of r@ktas Inc. Prepare a classified balance sheet as of December 31, 2018. 4. Bank credit Short-term investments Accounts payable Property& Equipment Retained earnings $ 40.000 $ 80.000 $5.000 $ 120,000 $ 43,000 Cash Inventory Capital Prepaid insurance $ 15,000 $ 75,000 ? $ 12,000

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