6. Jerry's Motor Repairs had total assets of $60.000 and total liabilities of $40,000 at the beginning of the year. During the year the business recorded $100,000 in revenues. $55,000 in expenses, and drawings of $10,000. Shareholders' equity at the end of the year was A $55,000 B. $35,000 c. $65.000 D. S45,000 Amanda started business on 1 December 2019 with capital of 85,000. She has not yet prepared a full set of financial statements. As at the end of her first reporting period. 30 November 2020, she has cash at bank of S1,726. She made sales of $33.498 during the period and paid expense in cash of $19,385. She has no outstanding payables at the end of the period, and has no non-current assets or inventory, but one customer owes her S2,387 A C. Assuming Amanda made no other capital injections but took drawings of S15.000 in the period, identify her profit for the 12 months reporting period to 30 November 2020 and her total owner's equity at the end of the period on an accrual basis. A. Net profit of $11,726, owner's equity of S1,726. B. Net profit of $14,113, owner's equity of S4,113. C. Net profit of $11,726, owner's equity of $4.113. D. Net profit of $14,113, owner's equity of S1,726. When a company receives an electricity bill but did not pay it right away, it should debit electricity expense and credit accounts receivable B. debit electricity expense and credit accounts payable debit accounts payable and credit electricity expense D. make no entry until the bill is paid Liabilities of a company are the amount owed to investors B. owners C. creditors D. shareholders During 2020, Joey paid a total of $50,000 for rent, covering the period from 1 January 2020 to 31 March 2021. What figures should appear in the financial statements for the year ended as at 31 December 2020? SOCI SOEP $40,000 $10,000 Prepayment B $10,000 $40,000 Prepayment 550,000 S10,000 Accrual S10,000 $50,000 Accrual A 10. A C D