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The bookkeeper for Martin Supply Company made the following journal entry to record a transaction that took place on March 10, Year 2 Debit
The bookkeeper for Martin Supply Company made the following journal entry to record a transaction that took place on March 10, Year 2 Debit Credit Accounts Receivable 30,000 Cash Equipment 21,000 51,000 Time left 12405 Before the journal entry above, Martin had assets of $900,000; liabilities of $460,000, and owners' equity of $440,000. Total assets immediately after the above transaction has been recorded amount to Select one: Oa $900,000. Ob $921,000 Oc $956,000 O d. $794,000 Which of the following accounting principles is concerned with offsetting revenue with the expenses incurred in producing that revenue? Select one: Oa Realization prinople Ob. Materiality Oc Matching Od Depreciation The amount of owners' equity in a business is not affected by Select one: Oa. The percentage of total assets held in cash. Ob. The investments made in the business by the owner. Oc The profitability of the business Od. The amount of dividends paid to stockholders. 60F Mostly sunny
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