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Oakey & Associates had the following assets and liabilities. The total for... Oakey & Associates had the following assets and liabilities. The total for equity equals: Cash at bank $5 000 Mortgage $25 000 Creditors $9 000 Inventory $3 800 Debtors $12 200 Office equipment $8 600 Loan from Dalby Ltd $7 000 Motor vehicles $19 000 O a $ 1 200 O b. $25 600. Oc. $7 600. O d. $39 600

A separate ledger account is maintained for each: A separate ledger account is maintained for each: a. journal entry. O b. item that appears in the financial reports. O c. business transaction. od day of business.

Which of the following errors would be detected by a trial balance? Which of the following errors would be detected by a trial balance? O a. The cashier pocketed the cash from a cash sale and did not record it on the register. O b. A cash sale was recorded in the sales account as $548 instead of $584 but was correctly recorded in the bank account Oc. Supplies purchased on credit were recorded as a debit to the plant and equipment account and a credit to the accounts payable account O d. Staff wages were recorded as office expenses.

The capital account of Benjie Maintenance, a sole trader, was credited with ... The capital account of Benjie Maintenance, a sole trader, was credited with $15 000. Which of the following would notgiverisetosucha CR? O a. The owner brought in his personal ride-on lawn mower (valued at $15 000) to be used by the business O b. The owner purchased a family holiday valued at $15 000 using funds from the business. Oc. The owner introduced $15 000 new capital Od. The business earned a profit of $15 000.

If an entity has liabilities of $170 000 and equity of $300 000 its assets are: If an entity has liabilities of $170 000 and equity of $300 000 its assets are: O a. $370 000. O b. $470 000 Oc. $130 000 O d. $230 000