Help me do this revision from question 6 to question 13 . Thanks 14:06A Ims.uef.edu.vnC) an S8,000 increaseD) an S8,000 decreaseQ.5 Ifrevenue was $45,000, expenses were $37,500 and the owner's withdrawals were $10,000, the amountof net profit or net loss would be:A) S45,000 net profitC) 337,500 net lossB) $7,500 net profitD) $2,500 net losstQ.6 A debit may signify:A) an increase in an asset accountB) a decrease in an asset accountC) an increase in a liability accountQ.7 The type of account with a normal credit balance is:D) an increase in the owner's capital accountA) an assetB) drawingC) a revenueD) an expenseQ.8 A debit balance in which of the following accounts would indicate a likely error?A) Account receivable B) CashC) Fee EarnedD) Miscellaneous ExpenseQ.9 The receipt of cash from customers in payment of their accounts would be recorded by a:A) debit to Cash; credit to Account ReceivableB) debit to Account Receivable; credit to CashC) debit to Cash; credit to Account PayableD) debit to Account Payable; credit to CashQ.10 The form listing the titles and balances of the accounts in the ledger on a given date is the:A) profit & loss statementC) statement of owner's equity D) trial balanceB) balance sheetQ.11 Which of the following items represents a deferral?A) Prepaid insuranceB) Salaries payableC) Fees earnedD) Accumulated depreciationQ.12 If the supplies account, befor adjustment on May 31, indicated a balance of $2,250, and supplies onhand at May 31 totaled $950, the adjusting entry would be:A) debit Supplies S950; credit Supplies Expense $950B) debit Supplies S1,300; credit Supplies Expense $1,300C) debit Supplies Expense $950; credit Supplies $950D) debit Supplies Expense S1,300; credit Supplies $1,300Q.13 The balance in uneamed rent account for Ideal Enterprise as December 31 is $1,200. If IdealEnterprise failed to record the adjusting entry for S600 of rent earned during December, the effect on thebalance sheet and profit and loss statement for December is:A) assets understated S600; net profit overstated S600B) liabilities understated S600; net profit understated S600C) liabilities overstated S600; net profit understated S600D) liabilities overstated S600; net profit overstated S600Q.14 If the estimated amount of depreciation on equipment for a period is $2,000, the adjusting entry torecord depreciation would be:A) debit Depreciation Expense $2,000; credit Equipment $2,000B) debit Equipment $2,000; credit Depreciation Expense $2,000C) debit Depreciation Expense $2,000; credit Accumulated Depreciation $2,000D) debit Accumulated Depreciation $2,000; credit Depreciation Expense $2,000Q.15 If the equipment account has a balance of $22,500 and its accumulated depreciation account has abalance of $14,000, the book value of the equipment is:A) S36,500C) S14,000B) S22,500D) S8,500Q.16 The size of a business is represented with its:A) Total assets. B) Total revenues.CYTotal liabilities.D) Total owners' equities.Q.17 Financial accounting exists because:A) Businesses need to minimize expenses and manage cash efficiently.B) Businesses need to provide information to outsiders.C) Businesses need to contribute to national economics.D) Businesses need to manage resources efficiently and effectively, and measure results of their operations.Q.18 A company bought $300 worth of inventories and paid $100 to the seller. The rest of the amount willbe paid next month. The transaction affects:A) Balance sheet.B) Income statement.C) Statement of Owners' Equity.D) Balance Sheet and Income Statement.010 u4 Let eu

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