Question 4A firm received a utility bill of $1,000; management paid immediately $200 in cash, and decided to wait to pay the rest. What are the net changes on the accounts impacted by this transaction?1 pointA net increase in Total Liabilities, a net increase in Total Assets, a net decrease in Total Shareholders’ EquityA net increase in Total Liabilities, a net decrease in Total Assets, a net decrease in Total Shareholders’ EquityA net decrease in Total Liabilities, a net decrease in Total Assets, a net decrease in Total Shareholders’ EquityA net increase in Total Liabilities, a net decrease in Total Assets, a net increase in Total Shareholders’ Equity

A firm sold goods for $10,000 in cash. Those goods originally cost $12,000. What are the net changes on the accounts impacted by this transaction?1 pointTotal Assets have a net increase. Shareholders’ Equity has a net increase.Total Assets have a net increase. Shareholders’ Equity has a net decrease.Total Assets have a net decrease. Shareholders’ Equity has a net decrease.Total Assets have a net decrease. Shareholders’ Equity has a net increase.

6.Question 6Which of the following effects on accounts from a transaction is possible?1 pointCash decreases; Accounts Payable (A/P) decreasesCash increases; Accounts Receivable (A/R) increasesRent expense increases; Cash increasesAccounts Receivable (A/R) decreases; Sales revenue increasesInventory increases; Accounts Payable (A/P) decreases

4.7.Indicate whether each of the following items would result in net cash flowfrom operating activities being higher (H) or lower (L) than net income.1.Decrease in accounts payable.2.Depreciation expense.3.Decrease in inventory.4.Gain on sale of assets.5.Increase in accounts receivable.6.Increase in deferred tax liabilities.7.Decrease in accrued liabilities.8.Increase in prepaid expenses.9.Increase in deferred revenue.10.Decrease in interest receivable.

A sole trader is $5,000 overdrawn at the bank and receives $1,000 from a credit customer in respect of its account. Which elements of the accounting equation will change due to this transaction?Question 5Answera.Liabilities onlyb.Assets, liabilities, and capitalc.Assets and liabilities onlyd.Assets only

Question 5At the beginning of November, 2017, Avalanche Corp. has an existing accounts receivable (A/R) balance of $35,056. On November 16th, 2017, Avalanche Corp. receives $15,112 in payments from customers on their accounts. What is the effect of this transaction on Avalanche Corp.’s accounts?1 pointCash increases; Accounts Payable (A/P) decreasesCash increases; Sales revenue decreasesAccounts Receivable (A/R) decreases; Accounts Payable (A/P) increasesAccounts Receivable (A/R) decreases; Service revenue increasesCash increases; Accounts Receivable (A/R) decreases