Question #1 ts Which of the following is an asset? npts Rent Expense Common Stock Accounts Payable Cash mpts empts tempts Submit Question 0 of 1 Attempts Used! ttempts Attempts Attempts 1 Attempts 1 Attempts 1 Attempts MacBook Ai Question #2 Which of the following represents earnings taken out by the owners? Supplies Expense Notes Payable Dividends Equipment Submit Question 0 of 1 Attempts Used! Question #3 Which of the following represents an amount owed by the company? Revenue Accounts Payable Supplies Expense Supplies Submit Question 0 of 1 Attempts Used! Question #4 Which of the following would be reported on the income statement? Notes Payable Common Stock Supplies Supplies Expense Submit Question 0 of 1 Attempts Used Question #5 Which of the following is a liability? Common Stock Cash Rent Expense Accounts Payable Submit Question 0 of 1 Attempts Used! Question #6 Which of the following is something of value owned by the company? Revenue Supplies Expene Supplies Accounts Payable Submit Question 0 of 1 Attempts Used Question #7 Inc. makes a payment of $500 on its accounts payable. How does this effect the accounting equation? Assets increase and Liabilities increase Assets decrease and Equity decreases Assets decrease and Liabilities decrease Assets decrease and Liabilities increase Assets increase and Equity Decreases Submit Question 0 of 1 Attempts Used MacBook Air D ONLY) Question #8 Able Inc. earns $750 working for a client and gets paid cash. How does this effect the accounting equation? Assets decrease and Equity decreases Assets decrease and Liabilities decrease Assets increase and Equity decreases Assets increase and Equity increases Assets increase and Liabilities increase Submit Question 0 of 1 Attempts Used MacBook Air hurs 1/31 (UNATTEMPTEN Question #9 t the accounting equation? Than Inc. pays $250 for this months electric bill. How does this effec Assets decrease and Liabilities increases Assets increase,and Equity decreases Assets decrease and Liabilities decrease Assets decrease and Equity decreases Assets increase and Liabilities increase Submit Question 0 of 1 Attempts Used ots pts MacBoo Question #10 Betly Inc. pays a $2,000 dividend to its owners. How does this affect the accounting equation? Assets increase and Liabilities increase Assets increase,and Equity decreases Assets decrease and Equity decreases Assets decrease and Liabilities decrease Assets decrease and Liabilities increases Submit Question 0 of 1 Attempts Used MacBook Air 10 Question #11 Soto Corporation does $3,000 of work for a customer on account. How does this affect the accounting equation? Assets increase and Equity Increases Assets decrease and Equity decreases Assets decrease and Equity increases Assets increase and Liabilities increase Assets decrease and Liabilities decrease Submit Question 0 of 1 Attempts Used MacBook Air 0 Question #12 Blue Bird Corporation collects $1,700 owed to it from a client. How does this affect the accounting equation? Assets decrease and Equity increases Assets decreas and Liabilitles decrease Assets increase and Equity increases Assets increase and Liabilities increase Total Assets, Liabilities, and Equity are unchanged Submit Question 0 of 1 Attempts Used MacBook Air s 1/31 (ONE ATTEMPTED ONLY) Question #13 Miro Inc. purchases $725 of supplies on account. How does this affect the accounting equation? Total Assets, Liabilities, and Equity are unchanged Assets decrease and Equity increases Assets decrease and Liabilities decrease Assets increase and Equity increases Assets increase and Liabilities increase Submit Question 0 of 1 Attempts Used Question #14 Salo Companyhas the following account balances. Cash $7,017 $1,568 $3,630 $2,300 $8,814 $1,300 Common Stock Rent Expense Dividends Retained Earnings Salary Expense $2,100 Accounts Receivable Accounts Payable Supplies 1,900 $753 $2,646 $2,352 Supplies Expense What is net income for the period? $5,155 7,017 8,814 $10,885 53,262 Submit Question MacBook Air 8 0 Question #15 Relo Company has the following account balances Accounts Receivable Accounts Payable Supplies Revenue Supplies Expense $7,537 $2,156 $3,520 $1,700 $11,500 $1,300 Common Stock Rent Expense Dividends Retained Earnings Salary Expense $2,800 $2,900 $1,835 $1,960 $2,352 What are total assets? $11,393 $7,537 $5,073 7,873 Submit Question MacBook Air 4) 8 9 0 Question #16 Superlor Companyhas the following account balances Common Stock Rent Expense Dividends Retained Earnings Salary Expense $2,000 $3,000 $144 $1,470 $1,862 Cash Accounts Receivable Accounts Payable Supplies Revenue Supplies Expense $6,578 $2,156 $4,070 $2,000 $11,100 $2,900 What are total liabilities? $3,338 $4,664 $10,734 Submit Question MacBook Air 8 8 0 BHM Inc.has the following account balances $2,700 $2,900 $1,114 Cash $5,018 $1,470 $4,180 $2,400 $10,000 $2,900 Common Stock Rent Expense Dividends Retained Earnings Salary Expense Accounts Recelvable Accounts Payable Supplies Revenue Supplies Expense $980 $2,058 What is ending retained earnings for the period? $2,142 $2,008 5,018 Submit Question MacBook Air 8 0 Question #18 Soto Inc.has the following account balances $5,725 $1,862 $3,850 $2,100 $10,000 $1,700 Common Stock Rent Expense Dividends Retained Earnings Salary Expense $2,000 $2,700 $1,665 $2,450 $2,548 Accounts Receivable Accounts Payable Supplies Supplies Expense What is total equity 2.450 $5,837 $3,052 $9,687 Submit Question MacBook Air 8 0 GH Question #19 Dewey Corporationhas the following account balances Cash Accounts Receivable Accounts Payable Supplies Revenue Supplies Expense $6,335 $1,470 $3,630 $1,700 $10,600 $1,700 Common Stock Rent Expense Dividends Retained Earnings Salary Expense $2,300 $2,300 $3,907 $2,352 $1,470 How much of the companys earnings did the owners take out of the business? Os2.352 $3,575 $5,130 $3,907 Submit Question MacBook Air 8 0 Question #20 Cheatem Inc.has the following account balances. 3,575 $2,450 $2,200 $2,300 $10,100 $2,100 Common Stock Rent Expense Dividends Retained Earnings Salary Expense $1,100 $1,100 $2,071 $2,744 $2,548 Cash Accounts Receivable Accounts Payable Supplies Revenue Supplies Expense How much is owed to this company by its customers? $2,744 $2,450 $6,125 $2,200 $2,071 Submit Question MacBook Air 8 0