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i need help to answer number 13,15 and 16 Mailings 5 Review View Help - A E L I E DE | 1 No Spac...
i need help to answer number 13,15 and 16
Mailings 5 Review View Help - A E L I E DE | 1 No Spac... 1 Heading 1 1 Heading 2 1 Normal 15 10 - 11: Paragraph Styles 31456 12. 13:14 D) SOUL C) $8,000 D) $80,000 E) None of the above 12. 12 If during the accounting period the assets decreased by $10,000, and equity increased by $2,000, then how did liabilities change? A) Increased by $12,000 B) Increased by $8,000 C) Decreased by $12,000 D) Decreased by $8,000 E) Decreased by $6,000 13. 13. If during the accounting period the assets increased by $14,000, and equity increased by $4,000, then how did liabilities change? A) Increased by $10,000 B) Increased by $4,000 C) Decreased by $4,000 D) Decreased by $10,000 E) Decreased by $18,000 14. 14 Purchasing equipment on account will have what effect on the components of the accounting equation? A) Increase in equipment and a decrease in equity B) Increase in equipment and an increase in equity C) Increase in equipment and an increase in liabilities D) Increase in equipment and a decrease in liabilities E) None of the above 15.15 Services rendered for which cash has not yet been received will have what effect on the components of the accounting equation? A) Increase in accounts receivable and a decrease in equity B) Increase in accounts receivable and an increase in equity C) Decrease in accounts receivable and an increase in equity D) Increase in fees earned and a decrease in equity E) Decrease in accounts receivable and a decrease in equity 16. 16 Beginning capital was $10,000. Withdrawals were $24,000. The owner made additional investments during year of $60.000 The ending capital balance was $90.000What was the net Income or net loss for the period? A) Net income $56.000 B) Net loss. $44.000 C) Net income $44.000 D) Net income, $30 000 E) None of the above 17. 17 Total revenues were 5105 000, total expenses, except for wage expense were $50.000, and net Income was $35.000 What was the amount of wage expense? A) $15.000 B) $20.000 C) $55,000 ot Step by Step Solution
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