Which of the following correctly reports the accounting equation?

Select one:

a. Assets = Liabilities Owners' Equityb. Assets Retained Earnings = Owners' Equityc. Assets = Owners' Equity + Liabilitiesd. Liabilities = Assets + Owners' Equitye. Capital Stock = Assets Liabilities

Yazzi Company borrowed $40,000 from National Bank. Which of the following accounts should be credited? Select one: a. Notes Payable b. Cash c. Accounts Payable d. Capital Stock e. Accounts Receivable Shields Corporation purchases 5 flashlights for $5 each and sells them to customers for $9 each. What is Shield's total gross profit on the flashlights? Select one: a. $4 b. $20 c. $25 d. $45 e. $5 Gillford Company has been in business for two years. During the first year, it earned net income of $45,000 and paid dividends of $10,000. During year two, the company had earnings of $56,000 and paid dividends of $12,000. What is the balance in Gillford's Retained Earnings at the end of year two? Select one: a. $101,000 b. $44,000 c. $79,000 d. $35,000 e. $22.000 Flanders Company sells capital stock of $4,500. Which of the following correctly identifies the accounts and their movements for this transaction? Select one: a. Cash increases $4,500; Capital stock decreases $4,500 b. Cash decreases $4,500; Capital stock decreases $4,500 c. Cash increases $4,500; Note Payable increases $4,500 d. Cash increases $4,500; Capital Stock increases $4,500 e. Capital Stock decreases $4,500; Note Payable increases $4,500