Question 7 2 pts 7. The following transactions occurred for Monopoly Enterprises: Issued 1,000 shares of common stock to investors for $5,000 Purchased $1,000 of supplies on account Purchased $5,000 of equipment; paying $2,000 in cash and signing a note for the balance Based on these transactions, Monopoly Enterprises' total assets are: A. $11,000 O B. $10,000 O C. $9,000 OD. $7,000 Question 8 2 pts 8. A transaction caused a $50,000 increase in both total assets and total liabilities. This transaction could have been O A. the purchase of a $50,000 parcel of land by issuing a note payable. OB. issuing stock to investors for $50,000 cash. OC. a loan from the bank of $50,000 was repaid. O D. the collection of a $50,000 account receivable, D Question 9 2 pts 9. Which of the following is most likely to appear on the balance sheet as a current asset? O A. Amounts owed to creditors for purchase of supplies on account. B. Purchase of a new delivery van. O C. Supplies on hand. O D. Mortgage payments to be paid to the bank in 5 years, D Question 10 2 pts 10. In a T-account debits appear O A on the left under assets but on the right under liabilities and stockholders' equity. B. an the right under assets but on the left under liabilities and stockholders' equity. C. always on the right O D. always on the left