accounting questions

1. If assets and liabilities at the start of the period are, respectively, $120,000 and $65,000, income for the period equals $20,000 and expenses equal $11,000 what is equity at the end of the period? Assume these are the only changes in equity for the period. 2. In the accounting equation income and expenses can be thought of as sub-classications of In the accounting equation income and expenses can be thought of as sub-classications of e 3. A chronological record of all the transactions of an entity is provided in the: Select one: '5 a. Ledger \"\" b. Journal A c. Balance sheet A d. Trial balance 4. The statement relating to a trial balance that is mm IS: Select one: a. A trial balance may be prepared at any time to test the equality of debits and credits in the ledger b. Atrial balance reports the nancial performance of a business 7" c. The fact that the sum of the debit column equals the sum of the credit column does not guarantee that no errors have been made In the ledger d. Atrial balance Is a list of all the accounts In the ledger with their current balances