If a company has an increase in total expenses of $10,000, which of the following is possible (more than one may be correct)? Multiple correct question Total assets decrease by $10,000 Total assets increase by $10,000 Total liabilities increase by $10,000 Total stockholders' equity increases by $10,000

If a company has an increase in total expenses of $10,000, which of the following is possible (more than one may be correct)? Multiple correct question Total assets decrease by $10,000 Total assets increase by $10,000 Total liabilities increase by $10,000 Total stockholders' equity increases by $10,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Retained earnings at the beginning of the year is $100,000. Total assets are $400,000. Liabilities are $250,000. Net income for the year are $25,000. Dividends are $5,000. What is ending retained earnings? Group of answer choices $120,000 $150,000 $520,000 $270,000
A company had the following selected data for two consecutive years of operation. Year 1 $12,000,000 6,000,000 Interest expense 300,000 Income tax expense 790,000 Profit 1,850,000 Using this data, determine the percentage change in the company's debt to total assets ratio from Year 1 to Year 2. Total assets Total liabilities O increase of 2% decrease of 8% no change O increase of 1% Year 2 $15,000,000 7,800,000 450,000 900,000 2,250,000
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If a company has an increase in total expenses of $10,000, which of the following is possible? a. Total liabilities decrease by $10,000. b. Total assets increase by $10,000. c. Total stockholders’ equity increases by $10,000. d. Total assets decrease by $10,000.
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The following is a summary of information presented on the financial statements of a company on December 31, 2025. 2025 $ 600,000 456,000 144,000 51,000 93,000 36,000 $57,000 With respect to income tax expense, a horizontal analysis reveals Account Net Sales Revenue Cost of Goods Sold Gross Profit Selling Expenses Net Income Before Income Tax Expense Income Tax Expense Net Income OA. an increase of 50% B. an increase of 53.33% C. an increase of 38.71% OD. an increase of 33.33% 2024 $504,000 405,000 99,000 54,000 45,000 24,000 $21,000 (Round your answer to two decimal places.)
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If a company receives $12,600 from a stockholder, the effect on the accounting equation would be: Multiple Choice Assets decrease $12,600 and equity decreases $12,600. Assets increase $12,600 and liabilities decrease $12,60. Assets increase $12,600 and liabilities increase $12,600, Liabilities increase $12,600 and equity decreases $12,600. Assets increase $12,600 and equity increases $12,600. Type here to search