question1: Bridge Inc.(an advertising company): What is the correct posting record for the transaction below? performed services for customers and received cash? A) debit: service revenues, credit: cash B) debit: accounts receivable, credit: service revenues C) debit: service revenues, credit: accounts receivable D) debit: cash, credit: service revenues. Question2: Briefly explain 2 difference of balance sheet accounts and income statement accounts. Question 3: Briefly explain the effect on the balance sheet and income statement if depreciation were not booked at the end of the year. Question 4: Bridge Inc. (an advertisement company) what is the correct. posting record for the transaction below? Helen Smith, one of the shareholders, sells part of her shares to Betty Willis ? a) debit: securities credit:cash b) debit cash: credit: share capital c) debit cash, credit: securities d) no journal entry Question 5: A company has the following 600 000$ in revenues, 400 000$ in expenses, 150 000$ increase of shareholders' equity. The dividend payments amounted to? a) 250 000$, b) 0$ c)200 000$ d) 50 000$ Question 6: How does the cash payment of a supplier's invoice that has already been posted affect the balance equation? a)increase assets and increase liabilities b) increase assets and increase shareholder's equity c) decrease assets and decrease liabilities d) decrease assets and decrease shareholder's equity question 7: An entity has the following balances: accounts receivable 10 000$, cash. 20 000$, short term liabilities 40 000$, inventory 25 000$, unearned service revenue 4 000$, land 100 000$. Its total current assets are? a) 100 000$, b) 59 000$, c)14 000$, d)54 000$ Please include the formulas and the calculations.

question 8: Briefly explain why the prepaid expenses account is part of the assets. question 9: Advertising agency has the following transaction. What is the impact of it? purchasing laptop on account a) debit: current assets, credit:cash b) debit: fixed assets, credit: liabilities c) debit: utility expense, credit:cash d) debit: current assets crediit:liabilities.