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V UUU B) $15,000. C) $ 3.750. S S 8.750. de company boar. The note 10.600 to settleber 31, 2012, S 45. On July 1, 2012, Goode Company borrowed $10,000. The company signed a note payable with interest at 12 percent per year. The note and interest are due on December 31 2012. On December 31, 2012, Goode paid $10,600 to settle the debt in full. Transaction analysis of the $10,600 cash payment on December 31, 2012, should reflect the following: A) Decrease assets, $10,600; decrease liabilities, $10,600. B) Decrease assets, $10,000; decrease stockholders' equity, $600; and decrease liabilities, $10,600. C) Decrease stockholders' equity, $10,000; decrease liabilities, $600; and decrease assets, $10,600. D) Decrease liabilities, $10,000; decrease stockholders' equity, $600; and decrease assets, $10,600. c) $42,UUU. D) $48,000. 9. Abrahams Corporation reported the following amounts at the end of the first year of operations, December 31, 2013: contributed capital $50,000; sales revenue $200,000; total assets $150,000; $10,000 dividends, and total liabilities $80,000. Retained earnings and total expenses would be A) retained earnings $20,000 and expenses $170,000 B) retained earnings $30,000 and expenses $160,000. retained earnings $70,000 and expenses $120,000. D) retained earnings $80,000 and expenses $110,000 C uin tatamant thnt monorts the financial position of a business is the 200,000 -80,006 -120 c)

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