FQ2.) Can you help me with these last few and simple multiple choice questions to finish this assignment? Thank you so much!

2.) Which step in the process of measuring external transactions involves determining the effect on assets, liabilities, and stockholders equity?

• Prepare a trial balance.

• Use source documents to determine accounts affected by the transaction.

• Post the transaction to the T-account in the general ledger.

• Analyze the impact of the transaction on the accounting equation.

17.) Which of the following transactions causes a decrease in stockholders' equity?

• Provide services to customers on account.

• Obtain cash by borrowing from a local bank.

• Purchase office equipment for cash.

• Pay dividends to stockholders.

23.) Jeannies Apples opened for business on January 1, 2024, and paid for two insurance policies effective on that date. The liability policy was $54,000 for 18 months, and the crop damage policy was $28,800 for a two-year term. What was the balance in Jeannies Prepaid Insurance account as of December 31, 2024?

• $32,400

• $82,800

• $50,400

• $14,400

26.) The following financial information is from Mustang Company. All debt is due within one year unless stated otherwise.

Retained Earnings	$ 63,200
Supplies	37,300
Equipment	73,800
Accounts Receivable	10,000
Deferred Revenue	4,700
Accounts Payable	13,000
Common Stock	24,000
Notes Payable (due in 18 months)	34,000
Interest Payable	5,500
Cash	23,300

What is the amount of current liabilities?

• $57,200

• $23,200

• $18,500

• $13,000

31.) Under accrual-basis accounting:

• Revenue should be recorded in the balance sheet.

• Revenue is a component of common stock.

• Revenue should be recorded in the period goods and services are provided.

• Revenue should be recorded in the period the cash is received.