answers are provided just need explanations please for studying thank you

Question 17 CoJo Co. Issues 2,000 shares of $10 par value stock for $80,000, the credit to Paid-in capital would be Correct Answer:$ 60,000 Question 18 The accounting equation is Correct Answer:D. Assets = Liabilities + Owners' Equity Question 19 If Hine's Bike Company had a beginning inventory of 60 bikes at $35 each and they bought 50 more for $38 each on April 1st and then they sold 80 for $70 each on May 15th, how would Hire's record the sale if they use the FIFO method of costing inventory? Correct Answer: Cash 5,600 Cost of Goods Sold 2,860 Sales 5,600 Inventory 2,860 Question 20 The matching concept is Correct Answer:C. Recording all expenses incurred in generating the revenues of a period Question 21 If beginning Rent Payable is $6,000 and the Company paid 9 months' rent of $9,000 ($1.000 per month) the ending financial statements would include Correct Answer:Rent Payable of $ 9,000 Question 22 Use the information below to answer the remaining questions on this exam. BE SURE YOUR CALCULATOR IS SET TO AT LEAST 4 DIGITS PAST THE DECIMALI (2nd Format, 4. Entor) BobKat Enterprises, Inc. Income Statement For the Year Ended December 31, 2020