7. .04.041 Dowdy Co. has equipment with a cost of $30,000 and accumulated depreciation of $22,000. What is the book value of the equipment? a. $52,000 b. $22,000 c. $30,000 d. $8,000 8. MC. 04,050 After preparing the work sheet, adjusting entries must be recorded in the and then posted to the a. general journal; general ledger b. general journal; financial statements c. trial balance; financial statements d. None of these listed answers are correct. 9. MC.04.051 Which of the following principles ensures that the expenses for one time period are matched up with the related revenues for the same time period? a. The contra principle b. The depreciation principle c. The mixed account principle d. The matching principle 10. MC. 04.058 If a company has more than one revenue account, the company should a. prepare two separate Income Statements. b. show each revenue account separately on the Income Statement. c. combine the revenue accounts on the Income Statement. d. None of these listed answers are correct. 11. MC. 04.059 Any additiona! investments by the owner should be shown as a(n) a. subtraction on the Statement of Owner's Equity. b. subtraction on the Income Statement. c. addition on the Income Statement. d. addition on the Statement of Owner's Equity. 12. MC. 05.001 Which of the following sequences of documents or records describes the proper sequence in the accounting cycle? a. Financial statements, journal, ledger, source documents, work sheet b. Work sheet, source documents, financial statements, ledger, journal c. Source documents, journal, ledger, work sheet, financial statements d. Source documents, ledger, journal, work sheet, financial statements e. Source documents, work sheet, journal, ledger, financial statements