Question: HELP CONFUSED MULTIPLE CHOICE 9- All's Good Bakery opened for business, Eva Flores, the owner reported the following assets and liabilities. Cash $15,500 Baking Equipment
HELP CONFUSED
MULTIPLE CHOICE
9- All's Good Bakery opened for business, Eva Flores, the owner reported the following assets and liabilities.
Cash $15,500
Baking Equipment $12,100
Refrigerator $4,000
Loan Payable $8,000
Accounts Payable $3,750
Use the information from the All's Good Bakery to determine the totals that would appear in her company's fundamental accounting equation in the following set of questions.
All's Good Bakery had total assets of:
A. 36,100
B. 31,600
C. 15,500
D. 43,350
10- All's Good Bakery opened for business, Eva Flores, the owner reported the following assets and liabilities.
Cash $15,500
Baking Equipment $12,100
Refrigerator $4,000
Loan Payable $8,000
Accounts Payable $3,750
All's Good Bakery had total liabilities of:
A. 8,000
B. 4,000
C. 12,100
D. 11,750
11-All's Good Bakery opened for business, Eva Flores, the owner reported the following assets and liabilities.
Cash $15,500
Baking Equipment $12,100
Refrigerator $4,000
Loan Payable $8,000
Accounts Payable $3,750
Based on the information provided, Eva Flores, Capital must be:
A. 36,100
B. 19,850
C. 43,350
D. none of the above
26- The following are transactions recorded by Aye Java Coffee Shop.
Cash
85,000
20,000
7,500
Equipment
60,000
Accounts Receivable
8,000 ] 2,000
Aye Java's cash balance was:
A. a debit balance of 52,500
B. a credit balance of 52,500
C. a debit balance of 112,500
D. a credit balance of 60,000
27-The following are transactions recorded by Aye Java Coffee Shop.
Cash
85,000
20,000
7,500
Equipment
60,000
Accounts Receivable
8,000 ] 2,000
Aye Java's equipment balance is:
A. a credit balance of 60,000
B. incomplete because there is no credit balance associated with it
C. a debit balance of 60,000
D. 0
28- The following are transactions recorded by Aye Java Coffee Shop.
Cash
85,000
20,000
7,500
Equipment
60,000
Accounts Receivable
8,000 ] 2,000
Aye Java's account receivable account had a balance of:
A. a total balance of 10,000
B. a credit balance of 2,000
C. a debit balance of 6,000
D. a debit balance of 8,000
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