Multiple Choice
Assuming that capital stock increased $5,000, net income was $100,000, and dividends were $120,000, if total assets increased by $25,000, what was the change in liabilities?
A) Liabilities increased $40,000
B) There was no change in liabilities
C) Liabilities decreased $10,000
D) The answer cannot be determined from the data given
Correct Answer:
Verified
Correct Answer:
Verified
Q2: If a company paid off a loan,
Q3: The basic accounting equation<br>A) Is out of
Q4: During March, Randolph Corporation completed the following
Q5: Expense accounts<br>A) Are increased with credit entries<br>B)
Q6: Owners' equity accounts are decreased with<br>A) Debit
Q7: Give the effect the following transactions would
Q8: Record the following transactions in journal entry
Q9: On January 25, Blayne Corporation bought
Q10: On July 24, Barkdull Inc. purchased
Q11: A trial balance shows that<br>A) No transactions