6.J.R. Tenten's investment of cash and equipment in her existing business will A decrease assets and increase owner's equity B. increase assets and owner's equity. C. decrease assets and increase liability D. increase assets and liabilities 7 If total liabilities increased by S16,000 and the assets increased by $20,000 during the accounting period, what is the change in the owner's equity amount? A. Decrease of $4 000 B. Increase of $4,000 C. Decrease of $16,000 D. Increase of $20,000 8 Which of the following would be an example of a contra-asset? A. Accumulated Depreciation B. Residual Value C. Supplies D. Depreciation Expense 9. Hope for the Homeless purchased kitchen equipment for $47,000 with a residual value of $17.000 and a life expectancy of 5 years. Using straight-line depreciation, the amount of the depreciation adjustment for the first year would be A $6,400 B.$5,000 C $4,000 D $6,000