Question: Question 3,4 & 5 please QUESTION 3 At the end of the period, cash on hand was $55.000, buildings totaled $270,000 and inventory totaled $75,000
QUESTION 3 At the end of the period, cash on hand was $55.000, buildings totaled $270,000 and inventory totaled $75,000 Amounts owed to creditors equaled $305.000. What was total equity for the period? $775.000 $95.000 $400.000 $305.000 QUESTION 4 Which of the following transactions is an example of an accrual? Recording depreciation expense at the end of a period. Recognizing interest earned on money lent to a customer, which will be paid next year. Incurring an expense for supplies previously purchased Prepaying for rent and recording rent expense at the end of the period once the rented asset has been used. QUESTION 5 Which of the following accounts would be closed to Income Summary? Retained Earnings Unearned Revenue Prepaid Rent Tax Expense
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