The dThe e sT y menrd a ar tay A i A deoe in inos an aset, inrese tockolders ty The assets and liahilities of the company are 5128,000 and $44,000, respectively. S e a ahould oqual a$212000 $44,000 e $128,000 d $84,000 9 On the statement of cash flows, the cash flows from financing activities section would include a. receipts from the sale of investments b payments for the acquisition of investments c receipts from a note receivable d receipts from the issuance of capital stock 10. An account is said to have a debit balance if the amount of the debits exceeds the amount of the credits b. there are more entries on the debit side than on the credit side there are more entries on the credit side than on the debit side d. the first entry of the accounting period was posted on the debit side 11. Which of the following statements is not true about liabilities? Liabilities are debts owed to outsiders b. Account titles of liabilities often include the term "payable." c. Receiving cash before a service is performed creates a liability. d. Liabilities do not include wages owed to employees of the company a. 12. Which of the following entries records the payment of an account payable? debit Cash; credit Accounts Payable b. debit Accounts Receivable; credit Cash c. debit Cash; credit Supplies Expense d. debit Accounts Payable; credit Cash a. a. Office Supplies, debit; Cash, credit b. Cash, debit; Office Supplies, credit c. Office Supplies, debit; Accounts Payable, credit d. Accounts Receivable, debit; Office Supplies, credit