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9 Question () (0.5 ) Furniture is classified as: (A) Assets (B) Liabilities. (C) Owner equate. (D) A & B. AO B CO DO 11 * Question ) (1 ) Dana Company has assets BD 50,000 and liabilities BD 30,000. If it buys land on credit for 20,000. What would be the effect of this transaction on the basic account equation? A- B- +20,000 for assets and + 20,000 of liabilities. + 20,000 for assets and -20,000 of liabilities. - 20,000 for assets and +20,000 of liabilities. +50,000 for assets and +50,000 of liabilities C- D- AO BO CO DO 10 Question (0.5 ) Ali books show the following balance: Cash BD 18,000 - Note Payable BD 4,000 - Land BD 72,000 Account Receivable BD 6,000 - Account Payable BD 3,000 Motor Van BD 21,000. The amount of Assets is: A- BD 106,000. B- BD 117,000. C-BD 124,000. D- BD 111,000. AO BO DO 5 * Question (1 ) If Company has liabilities of BD 3500 and owners' equity of BD 9500 Assets will be: CO Question ) (0.5 ) Assets Liabilities + Owner's equity Date Account Receivable Rere Cash Truck Drawing Expenses July 2 8.400 +8.400 The Transactions in July 2 will be: A- Invested cash in the business BD 8,400. B- Invested Truck in the business BD 8.400. C- Purchased Truck BD 8,400 on account. D- Purchased Truck BD 8.400 Cash. AO B ca DO 8 8 Question (1 (1 ) If the Transactions (Paid BD 4,000 for the rent Cash ) Result will be: (A) Decrease in assent and a decrease in liabilities. (8) Decrease in assent and a decrease in owners' equity (C) Increase in assent and a decrease in owners' equity (D) No right answer. AO BO DO 7 * Question ) (0.5 ) Assets = Liabilities + owner's equity Date Revesses Cash Capital Drawings Expenses July 15 -1,400 -1.400 The Transactions in July 15 will be: A- Received Account Payable BD 1,400 B- Paid cash to creditor BD 1,400. C- Purchased BD 1,400 on account. D- All right Answer. AO BO CO DO