QUESTION 3 The Harrington Company purchased equipment for 55.000 on January 1. It is estimated that annual depreciation on the computer will be $1.000 financial statements are to be prepared on December 31, the company should make the following adjusting entry A debit Depreciation Expense. 51.000 credit Accumulated Depreciation 54.000 Il debit Depreciation Expense. 51.000: credit ouipment, 55.000 debat Equipment 55.000 credit Accumulated Depreciation, 55.000 D.debit Depreciation Expense. 51.000 credit Accumulated Depreciation. $1.000 QUESTION 7 in the first month of operations, the total of the debit entries to the cash account amounted to $1.000 and the total of the credit entries to the Cash account amounted to 5300. The Cash account A $800 credit balance B. 51.000 debit balance $200 debit balance 0.5800 debit balance. QUESTION 22 Dividends paid A. Increase expenses. 3. decrease revenues Cincrease assets. D. decrease retained earnings QUESTION 23 D Landmark Company reported net income of 59.000 for the year. During the year, accounts receivable increased by $2.000 accounts payable decreased by 51.000 and depreciation expense of $1,000 was recorded. Net cash provided by operating activities for the years A 515.000 B. 512.000 C 55.000 0.57.000 QUESTION 33 Assume that the Johnson Corporation uses the Indirect method to depict cash flows. Indicate where, if at all, a decrease in accounts receivable would be classified on the statement of cash flows. A Financing activities section Does not represent a cash flow. Operating activities section D. Investing activities section QUESTION 39 Supplies are reported on which financial statement? A. Statement of cash flows B. Retained earnings statement C. Income statement D. Balance sheet