IZAA O 1 ®stc llı.Acc 112 revision.pdf) اسراء1- At the beginning of the year, Farah company assets were $150,000 and its equity was$80,000. During of the year the assets increase by $30,000 and liabilities increase by$15,000, What is the equity at the end of the year?A) $95,000.B) $85,000C) $15,000D) $70,0002- List of accounts and their balance, total debits equal total credits refer to:A) Journal entriesB) Balance sheetC) Trail balance.D) Income statement3- Noor and mona are the owners of N&M company, both of them are liable for theircompany's debts, N&M company is:A) Sole proprietorshipB) PartnershipC) Corporation.D) None of the above4- The business will continue operating in the future refers to the following:A) Matching principleB) Full disclosure principleC) Monetary unit assumptionD) Going concern assumption.5- During September 2019, ABC company had cash receipts of $10,000 and cash paymentof $12,500. The end cash balance at September 30 was $3,000. What was the beginningcash balance at September ,1?A) $4,500B) $15,500C) $5,500.D) $2,000

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At the beginning of the year, Farah company assets were $150,000 and its equity was $80,000. During of the year the assets increase by $30,000 and liabilities increase by $15,000, What is the equity at the end of the year? A) $95,000. B) $85,000 C) $15,000 D) $70,000

At the beginning of the year, Farah company assets were $150,000 and its equity was $80,000. During of the year the assets increase by $30,000 and liabilities increase by $15,000, What is the equity at the end of the year? A) $95,000. B) $85,000 C) $15,000 D) $70,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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