Question 2 If total liabilities decreased by $105000 and stockholders' equity decreased by $35000 during a period of time, then total assets must change by what amount and direction during that same period? $140000 increase O $70000 decrease O $70000 increase $140000 decrease Question 7 Yanik Corporation issues 5000, 10-year, 8%, $1000 bonds dated January 1, 2017, at 97. The journal entry to record the issuance will show a credit to Cash for $4850000. debit to Cash of $5000000. debit to Discount on Bonds Payable for $150000. credit to Bonds Payable for $4850000. Question 9 The interest charged on a $90000 note payable, at the rate of 6%, on a 90-day note would be (Use 360 days for calculation.) $900. $5400 $2700 $1350. Question 12 Alt Corp. issues 5000 shares of $10 par value common stock at $14 per share. When the transaction is recorded, credits are made to: Common Stock $50000 and Retained Earnings $20000. Common Stock $50000 and Paid-in Capital in Excess of Par Value $20000. Common Stock $50000 and Paid-in Capital in Excess of Stated Value $20000. Common Stock $70000. Question 20 On December 30, 2017, a company issued a note payable of $50,000, of which $10,000 will be repaid each year. What is the proper classification of this note on the December 31, 2017 balance sheet? $10,000 long-term liability; $40,000 current liability $50,000 long-term liability $10,000 current liability; $40,000 long-term liability $50,000 current liability