Collection of a $500 Accounts Receivable

Accounting mcq

• If total liabilities increased by $15,000 and owner’s equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
• Jenner Company began the year with owners equity of $15,000. During the year, Jenner received additional owner investments of $21,000
• Ed Dexter began the Dexter Company by investing $20,000 of cash in the business. The company recorded revenues of $185,000
• As of December 31, 2008, Anders Company has assets of $35,000 and owner's equity of $20,000. What are the liabilities for Anders Company as of December 31, 2008?
• Collection of a $500 Accounts Receivable
• If total liabilities increased by $4,000, then:
• As of June 30, 2008, Houston Company has assets of $100,000 and owner’s equity of $5,000. What are the liabilities for Houston Company as of June 30, 2008?
• The accounting equation for Goodboys Enterprises is as follows:
• If total liabilities decreased by $25,000 and owner’s equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
• If total liabilities decreased by $15,000 and owner’s equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?

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• Accounting mcq

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