Question 1.

Part A On June 1, 2017, Whispering Winds Corp. reported a cash balance of $38640. During June, Whispering made deposits of $14720 and made disbursements totaling $44160. What is the cash balance at the end of June? A. $9200 debit balance B. $5520 credit balance C. $9200 credit balance D. $53360 debit balance

Part B. In the first month of operations, the total of the debit entries to the Cash account amounted to $3060 and the total of the credit entries to the Cash account amounted to $1840. The Cash account has a A. $3060 debit balance. B. $610 credit balance. C. $1840 credit balance. D. $1220 debit balance.

Part C. If expenses are paid in cash, then A. stockholders' equity will increase. B. assets will increase. C. assets will decrease. D. liabilities will decrease.

Part D. Debits A. decrease assets and increase liabilities. B. increase both assets and liabilities. C. decrease both assets and liabilities. D. increase assets and decrease liabilities.