Question 28 In sncertain ciromtancet, the comervatism prinsiple guides accoustants to novilis mopted hes inome 3.4 pts Question 29 Mac Company sinewided $25.500 of revices on account, and collected $18,000 from customers during the year. The company futal equity wovidinctase: all the ancoch stwel are correct toual bat ilises would increase totel asset woud increme. Questiots 26 Which of the following accounts in not cloned of the che of an vorauntife-cycie? Question 27 Purchasho prepaid rent is classified as Arr) asts source trancation avert ine pravection: aszet eichicige tramactoon claine escharen traraction. Quettion 26 Which of the following accounts is not closed at the end of an accountine cycle? Question 27 Purchasing perepuid rent is classufed as A(n) ascet source tryicuction aset ine tamiction. asuet eichitige fronsaction dahis exchune transiction. Question 2 What of the followinl xcounts is not clowed at the end of an accounting syche? Question 27 Purchasing prepaid rent is clasisibed as arnti. asset surce tranaction. asser une transction Question 23 Nor Comum equerameds the followine transactions diring its fist vear in operation. 1. Wucd 39,200 of cominen thock to stodholders. 2. Fonided 55,500 of tervices on accoint 3. Paid $2,400 cath for operating eqgenses: 4. Coliected 57500 of cash from accounts recehivable. 5. Pald a 5200 cash alviend te stockholders. The arnoumt of retained eamings appearizg on Nor Company's veat-end balance sheet isi 12040 $12.049 541 100 12260 Question 24