44.
Which of the following will
not
cause a change in the owners’ equity of a business?
45.
Which of the following is correct when a corporation uses cash to pay for an expense?
46.
Deerpark Corporation recently borrowed $70,000 cash from its bank. Which of the
following was
unaffected
by this transaction?
47.
Which of the following transactions would cause an increase in both assets and owners’
equity?
48.
A transaction caused an increase in both assets and owners’ equity. This transaction could
have been resulted from the:
49.
The amount of owners’ equity in a business is not affected by:
50.
Decreases in owners’ equity are caused by:
51.
Which of the following transactions would cause a change in owners’ equity?
52.
On the statement of financial position, assets are normally presented in and liabilities are
usually presented in:
53.
Which of the following assets would most likely be listed
last
on a statement of financial
position?
54.
Which of the following liabilities would most likely be listed
last
on a statement of financial
position?
55.
If a transaction causes an asset account to decrease, which of the following related
effects may occur?
56.
A payment of a business debt not including interest:
57.
If total assets equal $270,000 and total liabilities equal $202,500, the total owners’ equity
must equal:
58.
If total assets equal $345,000 and total owners’ equity equal $120,000, then total liabilities
must equal:
59.
Owners’ equity in a business increases as a result of which of the following?
60.
Owners’ equity in a business decreases as a result of which of the following?
61.
To appear in a balance sheet of a business entity, an asset need not:
62.
A balance sheet:
63.
Which of the following is correct if a company purchases equipment for $70,000 cash?
64.
If a company purchases equipment for $65,000 by issuing a note payable:
65.
If a company has a profit:
66.
Capital stock represents:
67.
The balance sheet item that represents the portion of owners’ equity resulting from
profitable operations of the business is:
68.
Retained earnings appears on:
At December 31, 2014, the accounting records of Braun Corporation contain the following
items:
69.
Refer to the information above. If Capital Stock is $260,000, what is the December 31,
2014 cash balance?
70.
Refer to the information above. If Capital Stock is $320,000, total assets of Braun
Corporation at December 31, 2014, amounts to:
71.
Refer to the information above. If Cash at December 31, 2014, is $86,000, Capital Stock is:
72.
Refer to the information above. If Cash at December 31, 2014, is $26,000, total owners’
equity is:
2-38
73.
Refer to the information above. If Cash at December 31, 2014, is $66,000, total assets
amounts to:
At December 31, 2014, the accounting records of Hercules Manufacturing, Inc. contain the
following items:
74.
Refer to the information above. If total assets of Hercules Manufacturing, Inc. are
$556,000, Equipment is carried in Hercules Manufacturing accounting records at:
75.
Refer to the information above. If total assets of Hercules Manufacturing, Inc. are
$556,000, Retained Earnings at December 31, 2014, must be:
76.
Refer to the information above. If Retained Earnings at December 31, 2014, is $140,000,
total assets amounts to: