a decrease in Cash and an increase in Accounts Payable. an increase in Accounts Payable and a decrease in Retained Earnings. 8-Net income results when Revenues > Expenses. Revenues < Expenses. Assets > Liabilities. 9- Liabilities of a company are owed to underwriters. creditors. debtors. benefactors.
10- At October 1, Arcade Fire Enterprises reported stockholders’ equity of $ 35,000. During October, common stock of $ 2,000 was issued and the company earned net income of $ 7,000. If stockholders’ equity at October 31 totals $ 40,000, what amount of dividends were paid during the month?
$ 2,000 $ 4,000 $ 5,000 $ 0
11-Ethics are the standards of conduct by which one’ s actions are judged as