Part At Maple-cheie Gestion Cho the westerstve the best completes the statement or swer the question 1 an 5 mario Time Allowed to Minute 1. Which of the following seats wowotwear on the A Uneared Revenue 1. Salaries Payable C. Interest Revenue D. Retained Earnings, 2. Revenue on account amounted to $5,000. Cash collections of accounts receivable amounted to $2.300. Expenses for the period were $2,100. Net income for the period Was A. S200, B. $350. C. $3,050. D. $2,900 3. At a time of increasing prices, which cost flow assumption will result in the highest ending inventory? A. Weighted average. B. FIFO. C. LIFO. D. None of these; inventory methods cannot affect cash flows. 4. The Billingham Company purchased $1,000 of supplies on account. After this transaction has been recorded in T-accounts, the $1,000 would appear A. on the left side of the Supplies account. B. on the right side of the Supplies account. C. on the left side of the Accounts Payable account. D. on the right side of the Cash account. 5. Which of the following transaction is an example of an asset exchange transaction? A. Purchased supplies on account $1,000 B. Paid advance rent $1,000 C. Provided services and earned $20,000 D. Received $1,000 as advance for service to be provided in the future