QUESTION 4 A campany paid a cash dividend of $48,000 ta stackholders. What wauld the effect of this trunsaction an the current month's acocunting equation? A. $48,000 decrease in Assets; $48,000 decrease in Liabilities; No elfect on Stockholders' Equity B. No effect on Assets; $49,000 decrease in Liabilitie; S48,000 increase in Stackholders' Equity O C. $48,000 increase in Assets; S48,000 ricrease in Liabiities; No elect on SooKholders' Equity D. $48,000 decrease in Assets; No offect on Liabilities; $48,000 decrease in Stackhaldars' Equity QUESTION 5 A company paid employee wages of 524,000 for the month. What would the elect of is transaction on the current month's accounting equation? A. $24,000 decrease in Assets: No effect on Liablities; S24,000 decrease in Stockholders' Equty B. $24,000 increase in Assets; $24,000 increase in Liabiities No etfect on Stockholders' Equity C. $24,000 decrease n Assets: $24,000 decrease in Liabilities; No effect on Stockholders' Equity D. No effect on Assets; $24,000 decrease in Liabilitie; S24,000 increase in Stockholders' Equity QUESTION 8 A company performed $17,270 of services and recelived S5,000 in cash with the remaining amount to bepaid in 60 days with no interest. What would the etect ot this transaction on the company's current month-end accounting equation? A. $17,20 inanasa in Assers; $17 270 incrmaLabiia No affect an Stookholders' Equity B. $11,270 increasa in Assers: No affact an Liablitee $11,270 incasa in Srockholders' Equity OC $17,270 increase in Assers: No effect on Liabilities $17,270 increase in Srockholders' Equity D. $6,000 increase in A88ets: S1 1,270 decrease in Liabilities; $17.270 increase in Stockholders. Equity QUESTION 7 A company raceived $11,000 cash in exchange for 20D sharas of tha company's common stock. What would tha cHact of this transaction on the auent year's aocounting oquation? OA. $11,000 increase in Ases;No effect an Liablities $11,000 increase in Stockholders' Equity B. $11,000 inarase in ssets; $11,000 increase in Liabiitis No cffcat on Soakholders' Equity C. No cfact on Asscts;$11,000 ds in Liabilitios; $11,000 increase in Sackholdars' Equity D. No aact on Assets; $11,000 incraase in Liablitiee $11,00 decroasa in Stackcholders' Equity QUESTION 8 A financal statement either presents irformation cavering a period of time (or exampe, a month, aquarter, or a year) ar it presents information as of a part cular date (for example as of December 31, 2018 Which of the following financial statamants prosents irformation as af a particular data? A. Balarce sheet . Income staterment CStatcmant of ratained D. Both the halance sheot and tha incoma statement E.None of tha abone carning QUESTION 9 A transaction caused a $400,000 increase in bath aets and total liablitics This transaction could have bean A. Purchase of office equipment for $480,000, paying $80,000 cash and iesuing a note peyable for the balance B. Inveetment of S400,000 cash in the business by the owner C. Purchase for office equipment for S400,000 cash D. Aepayment of $400,000 bank lan QUESTION 10 A trial balance can be described as: A. One of the basic tinancial statements of an oganization B. A record on which are recorded the increases and decreases of a pat culer financial statement component, such as cash O C. A grouping of the accounts used by an organization to prepare its basic financial staternents D. A it of general ledger account titles ard balanices at a certain date
