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QUESTION 23 Using the following select the best answer Adjustments Assets BALANCE SHEET = Liabilities + Stockholders Equity NCOME STATEMENT Revenues Expenses Recognized office supplies used during the month $4,000 Increased office supplies expense, decreasing retained earnings and total equity; and decreased the asset office supplies for $4,000 Increased the asset office supplies, decreasing office supplies expense and increasing retained earnings and total equity Increased office supplies expense, decreasing retained earnings and total equity, and increased the asset office supplies for $1.000 Decreased office supplies expense, decreasing retained earnings and total equity, and the asset office supplies for $4,000 the asset office supplies for $4,000 O Decreased office supplies expense, decreasing retained earnings and total equity, and the asset office supplies for $4.000 QUESTION 24 Using the following select the best answer Adjustments Assets BALANCE SHEET Liabilities + Stockholders Equity NCOME STATEMENT Ravenue Expenses d Recorded monthly income tax expense $17.000 Decreased income tax expense, Increasing retained earnings and total equity, Increased the liability income tax payable for 517,000 Increased income tax expense, decreasing retained earnings and total equity, Increased the ability Income tax payable for $7,000 Decreased income tax expense, decreasing retained earnings and total equity, increased the liability Income tax payable for $17.000 Increased income tax expense, decreasing retained earnings and total equity, increased the ability Income tax payable for $17.000 QUESTION 25 Using the following select the best answer BALANCE SHEET INCOME STATEMENT Adjustments Assets = Liabilities + Stockholders Equity Revenues Expenses e. Provided consulting services to clients that will pay ned month for $5,000 Increased the asset accounts receivable, increased service revenue, retained earnings and total equity for $5.000 Increased the asset accounts receivable, increased service revenue, retained earnings and total equity for $15,000 O Decreased the asset accounts receivable, increased service revenue, retained earnings and total equity for $5,000 O Increased the asset accounts receivable, decreased service revenue, retained earnings and total equity for $5,000

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