Waterford Company paid $1,500 cash for salary expense. As a result of this business event, O a. The net cash flow from operating activities decreased. b. Liabilities increased. O Total assets were not affected. O d. Total equity was not affected. QUESTION 11 Liabilities are shown on the a. balance sheet b. statement of cash flows. O statement of changes in stockholders' equity. d. income statement. QUESTION 40 The following accounts and balances were drawn from the records of Coffee Company: Cash Revenues Expenses Dividends $4,000 $5,000 $2,000 $1,000 Based on this information alone, the amount of net income is O a. $3,000 b. $6,000 OC. $2.000 O d. $1.000 The following accounts and balances were drawn from the records of Juniper Company: Cash Accounts Payable Common Stock $5,000 $4,500 $6,000 $19.000 $2,000 Land Accounts Receivable Based on this information alone, the amount of Juniper's retained earnings is: a. $21.500 b. $9,500 OC. $13.500 od. $15.500 Which of the following represents one of the goals of a successfully prepared balance sheet? O a. Total assets must equal total liabilities. b. Total assets must equal total stockholder's equity. OC. Total assets must equal total liabilities less total stockholder's equity. Od. Total assets must equal total liabilities plus total stockholder's equity. QUESTION 38 Which of the following represents the correct order for preparing the financial statements? Income Statement, Statement of Changes in Stockholder's Equity, Balance Sheet Balance Sheet, Income Statement. Statement of Changes in Stockholder's Equity Income Statement. Balance Sheet Statement of Changes in Stockholder's Equity Statement of Changes in Stockholder's Equity, Income Statement Balance Sheet Which of the following set of accounts would be included on the balance sheet? a. Cash, Revenues, Accounts Receivable b. Dividends, Expenses, and Prepaid Assets C. Cash, Land, Prepaid Rent d. Cash, Expenses, and Land QUESTION 36 Which of the following accounts would not appear on the income statement? a. Dividends b. Operating Expenses c. Salary Expense d. Revenues Which of the following statements would Accrued Salaries Payable appear on? a. Income Statement b. Statement of Cash Flows O c. Balance Sheet d. Statement of Changes in Stockholder's Equity QUESTION 34 Which of the following represent the two accounts rolled forward on the Statement of Changes in Stockholder's Equity? a. Common Stock and Retained Earnings b. Revenues and Retained Earnings OC. Assets and Retained Earnings d. Common Stock and Liabilities Natchez Company collected $9,000 on September 1, 2020 from a customer for services to be provided over a one-year period beginning on that date. How much revenue would Natchez Company report related to this contract on its income statement for the year ended December 31, 2020? How much would it report as cash flows from operating activities for 2020? O a $0: $9,000 6.53,000: $3,000 OC. $3,000; $9.000 Od. $9.000: $9.000 QUESTION 32 The Alpha Company started the accounting period with $400 in supplies. During the period the company purchased $1.000 of supplies on account. At the end of the accounting period, there were $600 in supplies on hand. Based on this information, the amount of supplies expense appearing on the end of period income statement would be: 1. $1,600 b. 5800 C. 51.000 Which of the following accounts is not closed at the end of an accounting cycle? a. Expenses b. Revenues OC. Dividends O d. Liabilities QUESTION 30 Which of the following correctly states the proper order of the accounting cycle? a. Record transactions, adjust accounts, prepare statements, close temporary accounts. b. Prepare statements, record transactions, close temporary accounts, adjust accounts. c. Adjust accounts, record transactions, close temporary accounts, prepare statements. d. Adjust accounts, prepare statements, record transactions, close temporary accounts