minutes, 32 seconds. Question Completion Status: d. $3,400 decrease e. None of the above. QUESTION 4 Golden Enterprises started the year with the following: Assets $113,000; Liabilities $39,500; Common Stock $69,500; Retained Earings $4,000. During the year, the company earned revenue of $6,000, all of which was received in cash, and incurred expenses of $3,500, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $2,000 to owners. Assume no other activities occurred during the year. The amount of Golden's assets at the end of the year is: Oa. $119,000. Ob. $121,500. Oc. $122,500. Od. $117,000. Oe. None of the above. QUESTION 5 Somerdale Corporation received an order from a customer on November 10. It manufactured the ordered items on November 15, shipped the goods on Nov and received payment on December 2. Under the accrual basis of accounting, Somerdale should record revenue on: a. November 15. b. November 10. Oc. December 2. d. November 17. e. Some other date.