I need help with these 23 questions, if theres anyone who can help me with this accounting homework, i'd really appreciate it.

1) Paying debt principal with cash: a) reduces net worth b) increases net worth c) doubles net worth d) has no impact on net worth e) None of the choices listed 2) If your starting net worth is $20,000, how much will you be worth after the following transactions: earn salaries of $3,000, pay living expenses of $2,000, borrow $5,000 and pay interest of $300? a) $20,700 b) $15,700 c) $28,000 d) $23,700 e) None of the choices listed 3) Paying cash for entertainment: a) involves two entries to the income statement b) involves an entry to the balance sheet and an entry to the income statement c) involves two entries to the balance sheet d) involves two entries to the balance sheet and one entry to the income statement e) None of the choices listed 4) Which of the following has an impact only on the balance sheet? a) Reducing the principal portion of a car loan b) Paying the interest portion of a car loan c) Depositing interest received on savings d) Paying insurance expense e) None of the choices listed 5) Which of the following forms of organizations has only one owner? a) Corporation b) Proprietorship c) Partnership d) Co-operative e) None of the choices listed 6) When operating as a proprietary business, which of the following is true? a) All debt in the business may or may not be the responsibility of the owner which will depend on accounting policies b) All the business debt is considered as the owners debt c) All the business debt is not the responsibility of the owner because they are separate entities d) It is common practice to keep the business and personal records together because the owner and the business are considered as one e) None of the choices listed8) A business pays for August travel expenses using a credit card that is due for payment in September. Which of the following is correct? a) In August, increase travel expense, increase accounts payable b) In August, decrease travel expense, decrease accounts payable c) In September, increase travel expense, increase accounts payable d) In September, decrease travel expense, decrease accounts payable e) None of the choices listed 9) Which of the following would you not find on the financial statements of a business? a) Net Worth b) Cash c) Property, Plant and Equipment d) Owner's Equity e) None of the choices listed 10) Examples of assets include: a) cash, prepaid expenses, unearned revenue b) cash, accounts receivable, salaries expense c) cash, accounts receivable, unearned revenue, revenue d) cash, accounts receivable, office supplies, accumulated depreciation e) None of the choices listed 11) When a business prepays a maintenance contract, which of the following is true? a) Cash decreases, prepaid expenses increases, equity decreases b) Cash decreases, prepaid expenses increases on the income statement, equity decreases c) Cash decreases, prepaid expenses increases, no change to equity d) Cash decreases, prepaid expenses increases on the income statement, no change to equity e) None of the choices listed 12) Value of owners' equity at the end of January is $30,000. Calculate the value of owners equity at the end of February, after the following transactions occurred: cash revenues $14,000, cash expenses $5,000, expenses on account payable in March $3,000, interest on loan $1,000, bought fixed assets for $20,000 cash and billed travel expenses of $2,000 to a credit card payable in March. a) $27,000 b) $20,000 c) $53,000 d) $33,000 e) None of the choices listed 13) If a business records a telephone expense in March but does not pay the bill until June, which of the following is true? a) In June, debt decreases, expenses increase and equity decreases b) In June debt decreases and in March equity and cash decrease c) In March, debt increases, expenses increase and equity does not change d) In March, debt increases, expenses increase and equity decreases e) None of the choices listed15) 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. a) $11,000 b) $15,000 c) $9,000 d) $13,000 e) None of the choices listed 16) Which of the following is an expected advantage of implementing IFRS? a) Increased jurisdictional control b) Increased costs in the short term c) Increased comparability d) Increased GAAP e) None of the choices listed 17) Recording and recognizing prepaid expenses is an example reflecting which of the following principl a) Objectivity Principle b) Going Concern Principle c) Time Period Concept d) Matching Principle e) None of the choices listed 18) Which fundamental characteristic of GAAP requires that all information useful for decision making is present in the financial statements? a) Relevance b) Understandability c) Comparability d) Reliability e) None of the choices listed 19) The matching principle requires that expenses: a) be matched with revenues in the same period b) be less than revenue during each period c) be matched with liabilities d) be recorded only when cash is exchanged e) None of the choices listed21) Which fundamental characteristic of GAAP requires that financial statements are prepared in a similar way year after year? a) Relevance b) Understandability c) Comparability d) Reliability e) None of the choices listed 22) Members shall adhere to acknowledged principles and standards of professional practice. The preceding statement is: a) an aspect of triple bottom line reporting b) a form of organization c) a statement typical of the codes of ethics for accountants d) a statement of GAAP e) None of the choices listed 23) Which fundamental characteristic of GAAP requires that information is reasonably understood by its users? a) Relevance b) Understandability c) Comparability d) Reliability e) None of the choices listed 24) The purpose of internal controls is to provide reasonable assurance regarding the achievement of the: a) reliability of financial reporting b) effectiveness and efficiency of operations c) compliance with applicable laws and regulators d) all of the choices e) None of the choices listed 25) One of the roles of a professional accountant would be: a) to use information prepared by the bookkeeper to provide appropriate accounting adjustments in accordance with GAAP b) to prepare income statements only on a month to month basis c) to do the bank reconciliations only d) to only prepare payroll each month for the bookkeeper e) None of the choices listed 26) In 2011, Company Y has received a prepayment of $2,000 for the service to be done in 2012, In 2012, Company Y has rendered the service for an amount of $1,500 but failed to record any adjusting entry. What happens to Company Y's net income in 2012? a) Net Income would be overstated by $1,500. b) Net income would be overstated by $500. c) Net income would be understated by $500. d) Net income would be understated by $1,500. e) None of the choices listed