For each answer for each question (A, B, C and D) give details why the answer is not correct or wrong.

13. Given the information below about Thomas company paid in the current period? what was the dollar amount of dividends thc 31,000 4,000 Beginning retained earnin Net income $65,000 A. S74,000 B. $40,000 C. $24,000 D. $22,000 31,000+65,000-74,000-22,000 Nori Pearsen Deleted: 51000-110J00H8400 25J0 Beg ReNI- D-End VE 14. Which of the following recorded transactions would nat include a change to an income statement anda balance sheet account? Norl Pearsen Deleted: A. Revenue in the amount of services provided to customers in the current period who promise to pay in the mext periocd B. Utilities expense in the amount of a bill received for utilities used during the current period but unpaid as of the end of the period. C. Cost of equipment purchased during the current period by signing a note payable for the full amount. D. Revenue was earned in the current period that was paid for in the prior period. 5. The following transactions occurred during August: 1. Received S800 cash for services rendered during July 2., Received $8,000 from issuance of stock to investors 3., Received $600 from a customer in payment of accounts receivable that was recorded in the current month. 4., Billed customers for scrvices performed in August, $3500 5. Borrowed $3,500 from the bank, giving promissory note in exchange 6. Received $6,000 from a customer for services to be performed next year What is the amount of revenue recorded for August if the company uses accrual accounting? A. $4,900 B., $4,100, 600+3,500 4,100 C $4,300 D. $9,500, Nori Pearien Deleted: 800+3504300 Nori Pearsen Deleted5 16. Which of the following statements regarding adjusting entries is not true? A. Adjustments are needed to ensure that all revenues and expenses of the period are recorded according to B. Adjusting entries never affect the cash account. C. Adjusting entrics gencrally include onc balance shcct and one income statement account D. All choices are true concerning adjusting entries