4-10 please

If the liabilities owed by a business total $300,000 and owner's equity is equal to 300.000, then the sets also total $300.000 True False Question 5 (1 point) The financial statement that presents a summary of the revenues and expenses of a business for a specific period of time, such as a month or year, is called (n) prior period statement statement of owner's equity balance sheet income statement Question 6 (1 point) A financial statement user would determine if a company was profitable or not during a specific period of time by reviewing the income statement statement of cash flows balance sheet statement of retained earnings An account is said to have a debit balance if the amount of the debits exceeds the amount of the credits there are more entries on the debit side than on the credit side there are more entries on the credit side than on the debit side the first entry of the accounting period was posted on the debit side Question 8 (1 point) The asset created by a business when it makes a sale on account is termed accounts payable accounts receivable prepaid expense unearned revenue Question 9 (1 point) Which of the following accounts is a liability? Accounts Payable Accounts Receivable Service Revenue Wages Expense Question 10 (1 point) If a building is appraised for $85,000, it is offered for sale at $90,000, and the buyer pays $50,000 cash for it, the buyer would record the building at $85,000 True False