-4. Crawford Company started the vear with $60.000 in its Common Stock account and a credit balance in Retained Earnings of $44,000. During the year, the company earned net income of $48,000 and declared and paid $20,000 of dividends. In addition, the company sold additional common stock amounting to S28,000. As a result, the amount of its retained earnings at the end of the year would be A) $132,000. B) $160,000. C) $72,000. D) $100,000. 0. In the first month of operations, the total of the debit entries to the Cash account amounted to $2,000 and the total of the credit entries to the Cash account amounted to $1,500. The Cash account has a A) $2,000 debit balance. B) $500 debit balance. C) $500 credit balance. D) $1,500 credit balance. 11. At October 1, 2017, Metz Industries had an Accounts Payable balance of $140,000. During the month, the company made purchases on account of $100,000 and made payments on account of S160,000. At October 31, 2017, the Accounts Payable balance iS A) $80,000 credit B) $20,000 credit C) $160,000 credit D) $140,000 debit 12. The usual sequence of steps in the recording process is to A) analyze each transaction, enter the transaction in the journal, and transfer the B) analyze each transaction, enter the transaction in the ledger, and transfer the C) analyze each transaction, enter the transaction in the book of accounts, and D) analyze each transaction, enter the transaction in the book of original entry, and information to the ledger accounts. information to the journal. transfer the information to the journal. transfer the information to the journal. A person who wants to determine the balance of a particular account should refer to t A) journal B) source document. C) D) chart of accounts. 13. ledger