Gross pay is: Select one: O a. something else - none of the answers above are correct. O b. the amount of an employee's pay before any deductions. O c. the amount of an employee's regular pay less overtime pay. O d. the amount of an employee's pay due in income taxes. O e. the amount of an employee's net pay plus employer's taxes. Adjusting entries affect: Select one: O a. Only equity accounts. O b. Only income statement accounts. Oc Only cash flow statement of accounts. O d. Both income statement and balance sheet accounts. O e. Only balance sheet accounts. If the value of owner's equity is initially $10,000, calculate the value of owner's equity after the following transactions cash revenues $9,000, prepay rent $3,000, pay bank loan principal $2,000, pay maintenance fees $4,000 and buy a computer on account for $1,000 Select one: O a $13,000 O b. $9,000 Oc. $15,000 O d. $11,000 Which fundamental characteristic of GAAP requires that all information useful for decision making is present in the financial statements? Select one: O a. Comparability, O b. Reliability Oc Understandability. O d. Relevance