Lopez Company received $6,400 on July 1, 2017 for two years' rent in advance and recorded the transaction with a credit to Rent Revenue. The December 31, 2017 adjusting entry is: Select one: O a. Debit Rent Revenue and credit Unearned Rent, $6,400 O b. Debit Unearned Rent and credit Rent Revenue, $1,600 O c. Debit Unearned Rent and credit Rent Revenue, $6,400 O d. Debit Rent Revenue and credit Unearned Rent, $4,800 O e. Debit Rent Revenue and credit Unearned Rent, $1,600 The accounts to be credited in the closing entries at year-end include: Select one: O a. Freight-Out, Purchase Returns, Purchases b. Purchase Returns, Purchase Discounts, Interest Revenue c. Depreciation Expense, Purchases, Freight-In O d. Prepaid Expense, Depreciation Expense, Freight-Out e. Prepaid Expense, Purchases, Sales Returns During the year, a firm reported a decrease in liabilities of $68,700. For the year, revenues were $196,700, expenses were $131,800, and dividends were $73,000. During the year, $17,000 in common stock was issued. No other equity transactions occurred. What was the change in assets for the year? Select one: O a. $43,600 O b. $77,600 c. $68,400 O d. $59,800 O e. $102,400 The only revenue for the Ford Company is Sales. The only expenses are Cost of Goods Sold and Operating Expenses. A net income will result if: Select one: a. Gross Margin exceeds Operating Expenses b. Cost of Goods Sold exceeds Purchases c. Operating Expenses exceeds Cost of Good Sold d. Gross Margin exceeds Cost of Goods Sold e. Operating Expenses exceeds Gross Margin Girodat Printing reports these account balances at December 31, 2018: $50 Depreciation Expense, Building Land Accumulated Depreciation, Building Equipment Cash Accounts Receivable Buildings Common Stock $450 $150 $150 $70 $70 $370 $1,010 In the 12/31/18 trial balance, the total of the debit column is: Select one: a. $1,010 b. $1,260 c. $960 d. $1,160 e. $1,110 During the current year, revenues of $1,500 were recorded, of which $800 was on credit and $700 was received in cash. Also, during the year, cash payments of $1,100 were recorded, of which $850 was for current expenses and the rest for expenses previously accrued. What combined increase or (decrease) did these transactions have on Assets, Liabilities, and Equity, respectively? Select one: O a. $700, ($250), $950 O b. $400, ($250), $650 O c. $700, $550, $150 O d. $400, $550, ($100) e. $650, ($250), $900