9. The income statement for the year 2019 of Golden Company contains the following information: Revenues $150,000 Expenses: Wages Expense ..........$75,000 Rent Expense. 42,000 Advertising Expense........ 9,000 Supplies Expense... ..20,000 Utilities Expense .6,500 Insurance Expense ..8,000 Total expenses....... 160,500 Net income (loss)......... $(10,500) The entry to close the revenue account includes a (2 points) credit to Revenues for $150,000 debit to Revenues for $150,000, debit to Income Summary for $10,500 credit to Income Summary for $10,500, 10. The income statement for the year 2019 of Golden Company contains the following information: Revenues ...$150,000 Expenses Wages Expense $75,000 Rent Expense.... 42,000 Advertising Expense..... 9,000 Supplies Expense... 20,000 Utilities Expense 6,500 Insurance Expense 8,000 Total expenses. 160,500 Net income (loss). $(10,500) After all closing entries have been posted, the income Summary account will have a balance of (2 points) $10,500 debit $0. $10,500 credit $150,000 credit 11. ABC Insurance Company collected a premium of $18,000 for a 1-year insurance policy on April 1st, what amount should Jordan Insurance company report as a current liability for Unearned Service Revenue at December 31? (2 points) $0. $4,500 $ 18,000 $13.500 12. ABC purchased a piece of equipment on January 1, 2019. The equipment cost $600,000 and has an estimated life of 8 years and a residual value of $80,000. What was the depreciation expense for the asset for 2020 under the double-declining balance method? (2 points) $150.000 565,000 $65,620 511200