On June 30, Sugar Co, received a bill for $1150 for running a newspaper ad in June. The bill will be paid in July. Which of the following statements is correct for June? Multicle Choice Expenses are creased by $150 Revenues are decreased by 160 Liabilities are decreased by $1150 Assets are increased by $4150 Which of the following will result in an increase in revenue? Multiple Choice O Borrowing $10,000 from a bank Selling concert tickets for $10,000 four months before the performance Stockholders investing $10,000 in a company O O Selling $10,000 of groceries to customers Equity financing is financing obtained from: Multiple Choice O creditors. O stockholders selling goods or services on credit both creditors and stockholders. A company's financial records at the end of the year included the following amounts: Cash Accounts Receivable Supplies Accounts Payable Notes Payable Retained Earnings, beginning of year Common Stock Service Revenue Wages Expense Advertising Expense Rent Expense $71,800 29,800 5,800 11,800 5,900 18,888 58, eee 41,300 9,800 6,800 11,800 What is the amount of net income on the income statement for the year? Multiple Choice O $12.900 $31,700 $22,700 Saved Broadway, Inc.'s trial balance was in balance at the end of the period and showed the following accounts: Account Accounts Payable Cash Common Stock Equipment Land Notes Payable Balance $22,800 42,600 20,600 9,600 34,200 43,000 What is the balance of the credit column on Broadway's trial balance? Multiple Choice $65,800 $63,600 $86,400 $174,600