Ashworth A01 Accounting Quiz 2

Jun 24th, 2016
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Question Part 1 of 1 - 95.0/ 100.0 Points Question 1 of 20 5.0/ 5.0 Points Ryan withdrew cash from the business to pay his personal cell phone bill. The expanded accounting equation changes include __________. A. increase in both cash and withdrawal B. decrease in both cash and withdrawal C. decrease in cash and increase in withdrawal D. increase in cash and decrease in withdrawal Question 2 of 20 5.0/ 5.0 Points Which of the following items are on both the balance sheet and the statement of owner's equity? A. Net loss B. Capital C. Additional owner's investments D. Owner's withdrawals Question 3 of 20 5.0/ 5.0 Points BPK Industries has a net income for the period of $2,500. The balance in the Owner’s Capital account for the beginning of the period is $5,000 and the owner has withdrawn $1,650 for personal expenses. The balance in the Owner’s Capital account at the end of the period will be __________. A. $5,850 B. $7,500 C. $850 D. $9,150

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Ashworth A01 Accounting Quiz 2QuestionPart 1 of 1 95.0/ 100.0 PointsQuestion 1 of 205.0/ 5.0 PointsRyan withdrew cash from the business to pay his personal cell phone bill. The expandedaccounting equation changes include __________.A. increase in both cash and withdrawalB. decrease in both cash and withdrawalC. decrease in cash and increase in withdrawalD. increase in cash and decrease in withdrawalQuestion 2 of 205.0/ 5.0 PointsWhich of the following items are on both the balance sheet and the statement of owner's equity?A. Net lossB. CapitalC. Additional owner's investmentsD. Owner's withdrawalsQuestion 3 of 205.0/ 5.0 PointsBPK Industries has a net income for the period of $2,500. The balance in the Owners Capitalaccount for the beginning of the period is $5,000 and the owner has withdrawn $1,650 forpersonal expenses. The balance in the Owners Capital account at the end of the period will be__________.A. $5,850B. $7,500C. $850D. $9,150Question 4 of 205.0/ 5.0 PointsIf beginning capital was $110,000, ending capital is $95,000, and the owner's withdrawals were$10,000, the amount of net income or net loss was __________.A. net income of $5,000B. net income of $15,000C. net loss of $15,000D. net loss of $5,000Question 5 of 205.0/ 5.0 PointsA company has $4,500 in its Revenue account at the end of a period. The Expenses are asfollows: Rent, $750; Utilities, $150; Salaries, $2,400; Insurance, $225. The net income (loss. forthe period

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