ACCT20 2011 200 Summer Semester College of Business Administration Department of Accounting Dertien 7 The entity will remain in operation for the foreseeable future. This is the: Hotel 100 Seled one a. Monetary unit assumption O b. Going concern assumption c. Revenue recognition principle d. Matching principle ACCT2018319038W1 Department of Accounting Summer Semester College of Business Administration Question 8 The asset, fiabilities, and equities of Durra Design Studio have the following balances at December 31, 2019. The owner began the year with a KD 30,000 capital balance and contributed KD 18,000 and withdrew KD 55,000 during the year. Marted at 30.00 KD10,9000ffice Furniture KD49,000 pas question Notes Payable Rent Expense Cash 6,900 23,000Utilities Expense 3,600Accounts Payable 4,500Service Revenue 65,000Accounts Receivable 3,200 Ofice Supplies Salaries Expense Property Tax Expense 158,300 1,500Miscellaneous Expense 8,600 4,200 1. Prepare the Income Statement 2. Prepare the Statement of Owner's Equity 3. Prepare the Balance sheet for Durra Design on December 31, 2019