Ac 2670 Topic 02 Quiz

Top of Form Which of the following will increase stockholders equity HTMLCONTROL Forms.HTMLOption.1 A) Accounts payable HTMLCONTROL Forms.HTMLOption.1 B) Dividends paid HTMLCONTROL Forms.HTMLOption.1 C) Owners investment HTMLCONTROL Forms.HTMLOption.1 D) Expenses revenues Question 24 / 4 pointsRush Corporation borrowed 25,000 from the bank. Which of the following accurately shows the effects of the transaction HTMLCONTROL Forms.HTMLOption.1 A) Decrease cash 25,000 and increase notes payable 25,000 HTMLCONTROL Forms.HTMLOption.1 B) Increase cash 25,000 and decrease notes payable 25,000 HTMLCONTROL Forms.HTMLOption.1 C) Decrease cash 25,000 and decrease notes payable 25,000 HTMLCONTROL Forms.HTMLOption.1 D) Increase cash 25,000 and increase notes payable 25,000 Question 34 / 4 pointsJohnson, Inc. paid rent expense of 3,500 for the month of October. How are the accounts affected due to this transaction HTMLCONTROL Forms.HTMLOption.1 A) Decrease in cash 3,500 and decrease in retained earnings 3,500 HTMLCONTROL Forms.HTMLOption.1 B) Increase in cash 3,500 and decrease in retained earnings 3,500 HTMLCONTROL Forms.HTMLOption.1 C) Increase in cash 3,500 and increase in retained earnings 3,500 HTMLCONTROL Forms.HTMLOption.1 D) Decrease in cash 3,500 and increase in retained earnings 3,500 Question 44 / 4 pointsJohnson, Inc. purchased land for cash. What effect does this transaction have HTMLCONTROL Forms.HTMLOption.1 A) Decrease in Cash and increase in Land