1. The accounting equation forMickey Enterprises is as follows:

Assets	=	Liabilities	+	Stockholders' Equity
$360,000	=	$180,000	+	$180,000

If the company now purchases a truckon account for $30,000, the accounting equation will change to:

Assets Liabilities Stockholders'Equity

1. $390,000 = $180,000 + $210,000
2. $390,000 = $198,000 + $192,000
3. $390,000 = $210,000 + $180,000
4. $360,000 = $180,000 + $180,000

2. The accounting equation forMinnie Enterprises is as follows:

Assets	=	Liabilities	+	Stockholders' Equity
$1,080,000	=	$540,000	+	$540,000

If the company now purchases a truckon account for $90,000, the accounting equation will change to:

Assets Liabilities Stockholders'Equity

1. $1,170,000 = $540,000 +$630,000
2. $1,170,000 = $594,000 +$576,000
3. $1,170,000 = $630,000 + $540,000
4. $1,080,000 = $540,000 + $540,000

3. The accounting equation forGoofy Enterprises is as follows:

Assets	=	Liabilities	+	Stockholders' Equity
$240,000	=	$120,000	+	$120,000

If the company now issues stock for$30,000, the accounting equation will change to:

Assets Liabilities Stockholders'Equity

1. $240,000 = $ 90,000 + $150,000
2. $270,000 = $150,000 + $120,000
3. $240,000 = $150,000 + $ 90,000
4. $270,000 = $120,000 + $150,000

4. The accounting equation forPinto Company is as follows:

Assets	=	Liabilities	+	Stockholders' Equity
$720,000	=	$360,000	+	$360,000

If the company now issues stock for$90,000, the accounting equation will change to:

Assets Liabilities Stockholders'Equity

1. $720,000 = $270,000 + $450,000
2. $810,000 = $450,000 + $360,000
3. $720,000 = $450,000 + $270,000
4. $810,000 = $360,000 + $450,000

5. The accounting equation forSnake Enterprises is as follows:

Assets	=	Liabilities	+	Stockholders' Equity
$240,000	=	$120,000	+	$120,000

If the company now prepays rent of$18,000 for the next six months, the accounting equation willchange to:

Assets Liabilities Stockholders'Equity

1. $240,000 = $138,000 + $102,000
2. $276,000 = $138,000 + $138,000
3. $240,000 = $120,000 + $120,000
4. $258,000 = $138,000 + $120,000

6. The accounting equation forHenry Enterprises is as follows:

Assets	=	Liabilities	+	Stockholders' Equity
$720,000	=	$360,000	+	$360,000

If the company now prepays rent of$54,000 for the next six months, the accounting equation willchange to:

Assets Liabilities Stockholders'Equity

1. $720,000 = $414,000 + $306,000
2. $828,000 = $414,000 + $414,000
3. $720,000 = $360,000 + $360,000
4. $774,000 = $414,000 + $360,000

7. Theaccounting equation for Wolf Enterprises is as follows:

Assets	=	Liabilities	+	Stockholders' Equity
$240,000	=	$120,000	+	$120,000

If the company now signs a bank notepayable in exchange for $30,000, the accounting equation willchange to:

Assets Liabilities Stockholders'Equity

1. $240,000 = $ 90,000 + $150,000
2. $270,000 = $150,000 + $120,000
3. $240,000 = $150,000 + $ 90,000
4. $270,000 = $120,000 + $150,000

Answer rating: 100% (QA)

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