please answer a,b,c,d some of them have more than 1 answer right...please help ..I'm really lost with these questions

1 89) For a journal entry with only two lines, the following entry is valid: Increase in an asset, Decrease in Revenue A) False B) True 190) Prepaid Rent is what kind of account? A) Revenue B) Asset C) Expense D) Liability 191) For a journal entry with only two lines, the following entry is valid Increase in Owners' Equity, Decrease in Revenue. A) False B) True 192) The following amounts are reported in the ledger of ABC: $80,000 Liabilities Retained Earnings 12.000 What is the balance in the Common Stock account? B) $48,000. C) $32,000. D) $42,000 A) $44.000. carned 193) The adjusting entry required when amounts previously recorded as deferred revenues are by providing goods or services to customers includes: A) A credit to a liability. C) A debit to a liability B) A credit to an asset. D) A debit to an asset. 26 194) For a journal entry with only two lines, the following entry is valid Decrease in one Liability, Decrease in a second second liability A) Fase B) True 195) Which statement is true? A) Some Income Statement accounts are Temporary and some are Permanent BDAll Income Statement accounts are Temporary C) All Income Statement accounts are Permanent 196) Following are transactions of ABC, a new company, during the month of January 1 Issued 10,000 shares of common stock for SI5,000 cash 2 Purchased land for $12.000, signing a note payable for the full amount 3. Purchased office equipment for $1,200 cash. 4 Received cash of S14,000 for services provided to customers during the month. 5. Purchased $300 of office supplies on account. 6. Paid employces $10.000 for their first month's salaries What was the total amount of ABC's liabilities following these six transactions? A) S12.300 B) S1S,500. C) S27,300, D) S22,600. 197) Choose one A) Articulation has to do only with numbers on one statment in multiple years B) Articulation has to do only with numbers on one statment in one year C) Articulation has to do only with multiple statemtns in one year D) Articulation has to do with numbers on multiple statements in multiple years 198) The following statements pertain to recording transactions. Which of them are true? 1. Total debits should equal total credits 1I. It is possible to have multiple debits or credits in one jounal entry III Assets are always listed first in journal entries, ebt IV. Some journal entries will have debits only, n n. ee A) 1, 11, and IV B) II, I l, and IV. D) I and II. on 199) Allocation is primarily as issue in A) Both Measuring Assets and Income C) Measuring Assets 3) Dleasuring Income D) None of the other three 27 200) For the past five years, ABC reported the following annual net income and dividend a ounts Year Net Income S22,000 17,000 9.000 14,000 25.000 Dividends $2.000 2,000 1.000 3,000 4.000 If ABC had Retained Earnings of $88.000 at the end of year 5, what was the company's Retained Earnings at the beginning of Year 1? A) S13,000 B) S7,000. C) $1,000. D) S25.000. 201) The primary focus for financial accounting information is to provide information useful for: A) Investment decisions and credit decisions. B) Credit decisions but not investment decisions. C) Investment decisions but not credit decisions. D) Neither investment decisions nor credit decisions 202) For a journal entry with only two lines, the following entry is valid: Decrease in Owners' Equity, Decrease in Dividends A) Truc B) Falsc 203) The ending Retained Earnings balance of ABC increased by $3.2 million from the beginning of the year. The company declared a dividend of S1.3 million during the year. What was the net income earned during the year A) S1.9 million. B) S3.2 million. C) S4.5 million D) S1.3 million. 204) In Cash Flow reporting inventory is measured al depends on the measuring system B) Sacrifice Value D) Benefit Value 205) Usually we pick up Income at: A) Collection of a Receivable B) Acquisition of Inventory C) Point of Sale 206) An example of separation of duties would be not allowing an employee who receives cash to also be responsible for depositing that cash in the bank account. A) True B) False 28 207) Consider the following account balances of ABC at the end of the year Accounts Payable Salaries Expense Cash Common Stock Service Revenue Supplics Retained Earnings Uilities Expense How many of these accounts would appear in ABC's year-end Income Statement? $4.400 12.800 1,700 2,400 8.300 4,300 1.100 5,000 A) Four B) Two. C) Five. D) Three. 208) Consider the following list of accounts: Accounts Payable Cash Prepaid Rent Common Stock Salaries Payable Equipment Supplies Rent Expense How many of these accounts have a normal credit balance? A) Three. B) Four. C) Five. D) Two. 209) The Income Statement is a: A) Snapshot B) Video 210) For a journal entry with only two lines, the following entry is valid: Decrease in an asset, Increase in Dividends. A) False B) True 211) After the 3rd step in the Operating Cycle, the firm has? A) Inventory B) Cash C) Receivable 212) For a journal entry with only two lines, the following entry is valid: Increase in Owners' Equity. Increase in Expense. A) False B) True 29 ATVO, C) Four. D) Thr 250) Choose one: A) The Statement of Cash Flows always balances B) The Statement of Cash Flows never balances C) It is possible for Balance in Cash on the Statement of Cash Flows to be zero 19) Below is the company's Cash T-account. Cash Beg. 1,200 5.200 3,100 End. 3,300 7 The S5.200 amount could represent which of the following? ) Ending balance of cash. B) Purchase of supplies on account. D) Payment for salaries. Collection from customers