The beginning balance of the capital account is 60.000 TL. The firm had an capital increase of 70.000 TL and decrease of 20.000 TL during the period. How much will be ending balance? Select one: 150.000 TL 60.000 TL 110.000 TL O 130.000 TL Recording of economic events involves Select one: preparing accounting reports. o analyzing reported information. keeping a systematic chronological diary of events. o explaining the meaning of reported data. Which one of the following is related to financial accounting? Select one: o It is used for managers' decision making It is future oriented It is past oriented Time span is based on current to very long time periods The company borrowed money from a bank at the amount of 130.000 TL and deposited into bank account. The record includes: Select one: o credit to Capital for 130.000 TL credit to Notes Payable for 130.000 TL O credit to Bank Loans for 130.000 TL credit to Accounts Payable for 130.000 TL Net Income (Profit or loss) can be found by calculating: Select one: O Liabilities - Assets Revenues - Expenses Costs - Expenses Assets - Liabilities What does going-concern assumption mean? Select one: The company prepares its financial statements monthly or quarterly. The company provides necessary financial information to investors and creditors. O The company is expected to exist into foreseeable future unless it liquidates or goes to bankruptcy. The company uses the same accounting policies at each accounting period