multiple Choice

Mailings Review View Q Share Comments 1) Chelsea started his business by investing $30,000. This would? a) increase assets and increase owners equity b) increase assets and increase liabilities c) increase one asset and decrease another asset d) decrease assets and decrease liabilities 2) During the month of February, Ashley Services had cash receipts of $7,500 and cash disbursements of $8,600. The February 28 cash balance was $1,800. What was the February 1 beginning cash balance? A) $700 C) $2,900 E) $4,300 B) $1,100 D) $0 3) Riley purchased office equipment on account. This transaction would? a) increase assets and increase owners equity b) increase assets and increase liabilities c) increase one asset and decrease another d) decrease assets and liabilities 4) The standard T account includes all of the following EXCEPT? a) a credit side c) a title b) a debit side d) the current date 153%