16. INVENTORY METHODS: CT has the following beginning inventory, purchases and ending inventory: Beginning inventory 200 units at $10 cach, Purchase 6/1 400 units at S15 each, Purchase 91 400 units a 20 cach, and ending inventory 400 units. If the average cost per unit is $16, using the average cost method, what is the cost of the ending inventory? A TOKIO B. 6400 C. 4950 D. 3300 E. None of the above 17. FINANCIAL STATEMENTS: In the balance sheet if the total of all the assets is 100,000 and the owner's equity is 40,000, how much are the total liabilities? A. 100.000 B. 60.000 C. 50,000 D. 40.000 E. None of the above 18. BANK RECONCILIATION: In a bank reconciliation, if the halance per the bank statement is 120,000 and the deposit in transit is 40,000 and the outstanding checks is 20,000, what is the amount of the adjusted bank balance? A. 160,000 B. 140.000 C. 120.000 D. 100,000 E. None of the above 19. JOURNAL ENTRIES: The balance in withdrawals is 15000 and the name of the owner of the company is Ruiz. What is the closing entry? A. Dr. Income Summary 15,000 Cr. Ruiz, Withdrawals 15,000 c 13. Dr. Ruiz Withdrawals 15.000; Cr. Income Summary 15,000 C. Dr. Income Summary 15,000; Cr. Ruiz, Capital 15.000 D. Dr. Ruiz Capital 15.000; Cr. Income Summary 15,00 E. None of the above 20. SPECIAL JOURNALS: In which journal is the closing entry to close out the expense accounts recorded? A. Cash Receipts B. Cash Payments C. Purchases D. Sales E, None of the above 21. INVENTORY METHODS: Co. A has the following units of purchases, total sales for the year and ending inventory: Purchase 6/1 600 units at $15 each, Purchase 9/1 400 units a 20 cach, and total sales for the year 600 units and ending inventory 600. How many units are in beginning inventory? A. 500 B. 400 C. 300 D. 200 E. None of the above