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Will rate on multiple accounts if all 3 are answered Question 11) If total liabilities decreased by $22,500, then d. assets and shareholders' equity must

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Question 11) If total liabilities decreased by $22,500, then d. assets and shareholders' equity must have both increased by $22,500. c. assets must have increased by $22,500, or shareholders' equity must have decreased by $22,500. Ob. only shareholders' equity must have decreased by $22,500. O e. assets must have decreased by $22,500. a. assets must have increased by $22,500. November 1: SALL paid three months' rent in advance to SANE Ltd covering the period from November 1, 2019 to January 31, 2020: $24,000. December 20: $28,000 of service was provided to ZACK Ltd on account, but SALL has not yet billed ZACK and as a result no record has been made in SALL's books. December 31: The gas bill for the month of December was received on January 16: $1,650. In the books of SALL, the adjusting entry required on December 31 for the transaction on November 1 would include: O a. a credit to prepaid expense for $24,000. b. a debit to rent expense for $16,000. O c. a credit to prepaid expense for $8,000. O d. a credit to rent expense for $16,000. e. a credit to rent payable for $8,000. . a a Question 17) Adjusting entries can be classified as c. prepayments and postponements. d. accruals and advances. e. accruals and prepayments. a. postponements and advances. b. prepayments and unearned revenues

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