U LICS Will decrease. d) stockholders' equity will increase. 3. 4. On January 1, 20x1, Jackson Company reported stockholders' equity of $410,000. During the year. th paid dividends of $20,000. At December 31, 20x1, the balance in stockholders equity was $500,000. Why amount of net income or net loss would the company report for 20x1? (a)) Net income of $50,000 b) Net loss of $50,000 R-6= NI SE (70,000 c) Net income of $10,000 DOBInutave d) Net income of $30,000 o-BD t intaonolganings ABC Co. places an order for supplies on August 30, but does not receive the supplies until September 1 eptember 15. ABC uses the supplies during the month of October. ABC pays for the supplies on November 3. In which mal the supplies be recorded as an expense? a) August b) September c) October d) November 5. At the end of 2017, Lannister Company has total assets and liabilities at $42,000 and $11,000, respectively. Lannister reported net income for 2018 in the amount of $12,000. How much is shareholders' equity at the end of 2018 (assuming no dividends were paid in 2018)? a) $30,000 b) $22,000 42000= 11,000 t X C) $31,000 d) $43,000 6. What effect does the recognition of accrued wages expense at the end of the accounting period have on the accounting equation? a) Assets decrease and shareholders' equity decreases b) Liabilities increase and shareholders' equity decreases linhilities decrease