purchased equipment at a cost of s260,ooo in January. 2010. of January 1. As 31, B. Corp. 2014, 2014. 2014 is $22.000. After the recorded and Accumulated Depreciation? what are the balances for the and Depreciation a. S 22,000 110,000 b, S 22,ooo s 88,000 s 110,000 C. 110.000 s 88,000 d. 110,000 process of transferring amounts from a book of original entry to is 9. The correct term for the liabilities, revenues, e specific assets Double-entry system b. Posting Credit d. Journalizing income of a busine 10. h of the following terms best describes a distribution of the net its C. Earnings unit a. Revenue d. b. Dividends 11. Accumulated Depreciation for depreciation is recognized a. Increases when the monthly adjustment depreciation is b. when the monthly adjustment for accounts c. ls reported on the income statement with the expense d. Is allocated as an expense during future periods 12. Which one of the following items appears on a balance sheet? c. Utilities expense a. Accounts payable d. Cost of goods sold b. Sales revenue 3. When is revenue from the sale of merchandise normally recognized? a. On the date the sale is made. b. When the customer pays for the merchandise. the date on which the c. Either on the date on which the sale occurs, or customer pays when payment is d. When the merchandise is sold, if sold for cash, or received, if sold on credit