6) A business has the following account balances -cash S 100,000, accounts receivable S 200,000, prepaid insurance S 50,000, equipment S 200,000, accounts payable S 200,000, accumulated depreciation - equipment S 50,000. The number for total assets on the balance sheet is? a. 300,000 oo 0u0 b. 400,000 S 500,000 S 700,000 c. one of the above The following information is provided for a merchandising company: - in the income statement for the current year, employee payroll expense is S 600,000 7) on the balance sheet at the end of the prior year, payroll payable was $ 10,000 - on the balance sheet at the end of the current year, payroll payable was S 20,000 On the cash flow statement, cash paid to employees for payroll for the year was? a. $580,000 $590,000 c. 600,000 d. S 610,000 e. $620,000 8) An example of a contra account is? a. accounts payable b. accrued revenue c. prepaid expense e. accrued d. crued revenue none of the above The recording of depreciation expense is an example of the application of which accounting principle? 9) the revenue principle the cost principle the matching principle the reliability principle a