U. Ueliesses an asset $1,000; decreases a liability $1 UWher's equity $1,000 s that have been purchased are used in the course of business, then liability will increase. an asset will increase. owner's equity will decrease. D. owner's equity will increase. 10. The balance sheet is frequently referred to as A. an operating statement. B. the statement of financial position.* C. the statement of cash flows. D. the statement of owner's equity. 11. Centro-matic Company began the year with owner's equity of $15,000. During the year, Centro- matic received additional owner investments of $21,000, recorded expenses of $60,000, and had er drawings of $4,000. If Centro-matic's ending owner's equity was $56,000, what was the company's revenue for the year? A. $80,000. Sooo B. $84,000. 21000 c. $ 101,000. D. $ 105,000 36000 RE=NI X-60,000 = 12. The left side of an account is A. blank B. a description of the account. C. the debit side. * D. the balance of the account. 56,000= 15, root trev-60,580)