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16. A landlord received $600 cash for December 20C's rent but the tenant's rent for December is $1,000. Which of the following is true for year ended 20C. A) $600 would be reported on the statement of cash flows B) S400 would appear on the balance sheet as rent receivable. C) $1,000 would appear on the income statement as rent revenue earned. D) All of the above are true. E) None of the above is true. 17. Which group of accounts contains only those that normally have a debit balance? A) Accounts receivable; Accumulated depreciation; Fees earned. B) Bond investment; Cash; Contributed capital C) Cash; Inventory; Prepaid insrance. D) Notes receivable; Wages payable; Operating expenses. E) None of the above contains only debit balance accounts. 18. Hill's Copy Service performed photocopy services during December, 20A, but had not collected any cash (or other assets) from its customers by the end of the accounting period, December 31, 20A. What effect did performing these services have on the fundamental accounting model? A) Increased assets and increased liabilities. B) Increased assets and increased stockholders' equity. C) Increased assets and decreased stockholders' equity. D) Decreased liabilities and decreased stockholders' equity E) These services will not affect the accounting model until the cash is actually collected. 19. For each transaction recorded in an accounting system, the two basic equalities that must be maintained at all times are A) (1) Assets = Liabilities + Stockholders' Equity. (2) Net Income = Revenues + Expenses. B) (1) Cash Increase = Cash Inflows-Cash Outflows. (2) Net income = Revenues + Expenses C) (1) Assets Liabilities + Stockholders' Equity. (2) Debits Credits. D) (1) Net Income = Revenues-Expenses. (2) Debits = Credits E) None of the above is correct