CAL the Whe Acaden C awab h o le W e . 40 May 31 of the year the w Reche , 57350 Subes, E C) 59.00 Di 20500 St. of effect on decrew wable woodec , d y woo A The C) A D) A decrease decreason, w Sh All Star Cash Flows B) Salto Change As. or men B) Assos Shes f credo wby. Ide of a Traceed not be The cre Lima Sha Ale 9) A debit is used to record which of the following: A) A decrease in an asset account. B) A decrease in an expense account. C) An increase in the owner's withdrawals account. D) An increase in the owner's capital account. 10) Victor Cruz contributed $70.000 in cash and hand worth SI O togeen a new business, VC Consulting Whicho the following general journal entries will VC Consulting make to record this transaction! Debit Cruz, Capital $200.000, Credit Cash $70,000, Credit Land, S130,000 B) Debit Cruz, Capital, $200,000; Credit Assets, $200,000 C) Debit Accounts Payable $200,000: Credit Cruz, Capital, $200,000 D) Debit Cash $70,000, Debit Land $130,000: Credit Cruz, Capital, $200,000 11) On May 31, the Cash account of Tesla had a normal balance of $5.000. During May, the account was debited for a total of $12.200 and credited for a total of SI 500 What was the balance in the Cash account at the beginning of May? A) A $4,300 debit balance. B) A 55,700 credit balance. C) A $5,700 debt balance. D) A $4,300 credit balance. 12) Centurion Co, had the following accounts and balances at December 31: Account Debit Credit $ 10,000 Accounts Receivable 2,000 Prepaid Insurance 2,400 Supplies 1,000 Accounts Payable $ 5,000 T. Happy, Capital 4,900 7.000 Service Revenue Salaries Expense 500 Utilities Expense 1,000 $ 16,900 Totals $ 16,900 Using the information in the table, cakulate the company's reported net income for the period. A) 55,500 B) $10,400 C) $8,500 D) $4,000 13) The broad principle that requires expenses to be reported in the same period as the revenues that were eamed result of the expenses is the: A) Cost principle. B) Recognition principle. Expense recognition (Matching) principle. Time period principle