, What will usually cause the liability account Accounts Payable to increase? a. Debit. b. Credit. What will usually cause an asset account to increase? a. Debit. b. Credit 11. If beginning capital was $25.000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was: a. net loss of S35,000 b. net income of $35,000 c. net income of $14,000 d. net loss of $14,000 12. A company began the accounting period with $50,000 in owner's capital, ended with $75,000 in owner's capital, and the owner withdrew $30,000 during the period for personal use. What was the company's net income or loss for the period? a $55.000 net income b. $30,000 net loss. c. $5,000 net loss. d. $5,000 net income. 13. As of December 31, 2010, Majan Company has assets of $3,500 and owner's equity of $2,000. What are the liabilities for Majan Company as of December 31, 2010? .a. $1,500 b. $1,000 c. $2,500. d. $2,000. 14. The cost principle states that: a. assets should be initially recorded at cost and adjusted when the market value changes. b. activities of an entity are to be kept separate and distinct from its owner. c. assets should be recorded at their cost. d. only transaction data capable of being expressed in terms of money be included in the accounting records