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What was the stockholders equity on december

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Reference no: EM132570907

Question 1: On December 21, 2018, Wal-mart Inc.'s assets were $200,000 and its stockholders' equity was $115,000. During the year, assets increased $10,000 and liabilities decreased $7,000. What was the stockholders' equity on December 31, 2018?

Question 2: Typical cash flows from investing activities include:

A. Payments to purchase property and equipment.

B. Repayment of loans.

C. Proceeds from issuing notes payable.

D. Receipts from cash sales.

Question 3: Which account would be decreased by a credit?

A. Cash

B. Accounts payable

C. Contributed capital

D. Retained earnings

Question 4: Accounts receivable

A. has a normal credit balance.

B. is increased by a debit.

C. is a liability.

D. is increased when a company receives cash from its customers.

Question 5: Which of the following would represent an investing activity?

A. Purchasing equipment.

B. An investment of financial capital by the owners.

C. Borrowing money from a bank.

D. Repaying a loan the company had taken out.

Reference no: EM132570907

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