Consider the following transactions: Issued common stock for cash. Purchased equipment by signing a note payable. Paid rent for the current month. Collected cash from customers on account. How many of these four transactions increased the given company's total assets? A)One. B)Four. C)Two. D)Three.

152)Which of the following has the single greatest impact on stock prices? A)Total dividends. B)Net income. C)Total revenues. D)Total assets.

167)When a company makes an end-of-period adjusting entry, which includes a debit to Supplies Expense, the usual credit entry is made to: A)Supplies. B)Retained Earnings. C)Cash. D)Accounts Payable.

168)ABC sold $500 in widgets to a customer on account on January 1. On January 11 ABC collected the cash from that customer. What is the impact on ABC's accounting equation from the collection of cash? A)Decrease assets and increase liabilities. B)Decrease assets and decrease liabilities. C)No net effect to the accounting equation. D)Increase assets and increase liabilities

174)If a company has stockholders' equity of $60,000 at the end of the year, which of the following statements must be true? A)The company has issued $60,000 of common stock. B)Total revenues during the year equal $60,000. C)The company's assets exceed liabilities by $60,000. D)Net income for the year equals $60,000.

249)Consider the following transactions: Issued common stock for cash. Purchased equipment by signing a note payable. Provided services to customers on account. Collected cash from customers on account.
How many of these four transactions increased the given company's total liabilities? A)Two. B)One. C)Four. D)Three.
250)Choose one: A)The Statement of Cash Flows always balances B)The Statement of Cash Flows never balances C)It is possible for Balance in Cash on the Statement of Cash Flows to be zero

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