9.If the total liabilities of Los Altos Company are $37,000and the owners equity is $22,000,...
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Accounting
9.If the total liabilities of Los Altos Company are $37,000and the owners equity is $22,000, then total asset must be
a.$15,000
b. $22,000
c. $59,000
d. $37,000
10.Humbolt Square Bakery has a total debt of $25,000 and an owners equity of $50,000. If assets increase by $20,000 and liabilities increase by $15,000, what is the final balance of the owners equity?
a.$50,000
b. $40,000
c. $55,000
d. none of the above
11.Stage 3 of the accounting process, communicate information includes
a.Preparing and interpreting financial reports
b. Recording transaction
c.Analyzing the event.
d.All of the above.
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