1. During 2021, Lin cos assets decreased 500,000 and its liabilities decreased 900,000.

It’s equity
therefore:
a. Increased 400,000
b. Decreased 1,400,000
c. Decreased 400,000
d. Increased 1,400,000
2. As of December 2021, Stonewall Ltd. Has assets of 3,500 and equity of 2,000. What are liabilities
for stonewall Ltd>
a. 1500
b. 1000
c. 2500
d. 2000
3. Performing services on account will have the following effects on the components of the basic
accounting equation
a. Increase in assets and decrease equity
b. Increase assets and increase equity
c. Increase assets and increase liabilities
d. Increase liabilities and increase equity
4. Payment of account payable affects the components of the accounting equation in the following
way
a. Decrease equity and decrease liability
b. Increase assets and decrease liab
c. Decrease assets and increase equity
d. Decrease assets and decrease liabilities
5. Paid dividends to stock holders
a. Decrease in assets, decrease in equity
b. Decrease in assets, increase in equity
c. Increase in assets, increase in equity
d. increase assets, decrease in equity
6. issued ordinary shares for cash to start business
a. decrease in assets, increase in equity
b. increase in assets, increase in equity
c. decrease assets, decrease in equity
d. increase in assets, decrease in equity
7. purchased equipment on account
a. increase in assets, decrease in liability
b. increase in assets, increase in equity
c. increase in assets, decrease in liability
d. increase in equity, increase in liability
8. kaytee co. paid salaries to their workers
a. decrease in assets, decrease in equity
b. increase in assets, decrease in equity
 c. decrease in assets, increase in equity
d. increase in assets, increase in equity
9. billed customers for services performed
a. decrease in assets, decrease in equity
b. increase in assets, increase in equity
c. increase liability, decrease assets
d. decrease in liability, increase in equity
10. received cash from customers when services was performed
a. increase in assets, increase in equity
b. increase assets, decrease liability
c. decrease in assets, decrease in equity
d. decrease in liability, increase in equity
11. paid 1-month rent.
a. Decrease in equity and decrease in assets
b. Increase in liability and decrease in assets
c. Decrease in assets and increase in liability
d. Increase in liability and decrease in equity
12. received cash investment from shareholders to start business in exchange for ordinary shares
a. increase in asset, increase in equity
b. decrease in asset, increase in equity
c. decrease in asset, decrease in equity
d. increase in asset, decrease in equity

for numbers 13-20 here are your choices kasi tinatamad na ako

a. An increase in asset and decrease in another asset

b. An increase in assets and An increase in equity
c. An increase in assets and an increase in liab
d. A decrease in assets and a decrease in equity
e. A decrease in assets and decrease in liabilities
f. An increase in liab and a decrease in equity
g. An increase in equity and a decrease in liabilities
*pwedeng maulit

Ming-ming co. has the following transactions for the month of june, 2021

13. purchased computers for 15,000 from bytes of data on account

14. paid 3000 cash for May rent in storage space
15. received 12,000 cash from customers for contracts billed in june 2020
16. performed payroll services for SM constriction co. for 2,500 cash
17. paid northern Seahawks power co. 7,000 cash for energy usage in May
18. shareholders invested an additional 25,000 for the business
19. paid Bites of data for the computers purchased in number 13
20. incurred advertising expense for May of 900 on account