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Simple MCQ question from Financial Accounting. Please solve it ASAP!!! QUESTION 10 2 Decreases in owners' equity are caused by: Payment of liabilities and unprofitable

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image text in transcribed Simple MCQ question from Financial Accounting. Please solve it ASAP!!!
QUESTION 10 2 Decreases in owners' equity are caused by: Payment of liabilities and unprofitable operations. Purchases of assets and payment of liabilities. Distributions of assets to the owners and unprofitable operations. O Purchases of assets and incurrence of liabilities. 4 points During Year 2. Millstone Company provided $6.500 of services for cash paid cash dividends of $1,000 to owners, and paid $4.000 cash for expenses Liabilities were unchanged. Which of the following statements accurately describes the effect of these events on the elements of the company's financial statements o Stockholders' equity increased by $2,500 Assets increased by $5,500 Assets increased by 56.500 Assets increased by 51.500 QUESTION 12 Emir Company purchased equipment that cost $110,000 cash on lanuary 1, Year 1. The equipment had an expected useful life of six years and an estimated salvage value of $8,000. Emir depreciates its assets under the straight-line method. What are the amounts of depreciation expense during Year 3 and the accumulated depreciation at December 31, Year 3, respectively? O 517,000 and $68,000 $17,000 and $17.000 568,000 and $17.000 $17,000 and $51.000

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