Trademarks would appear in which balance sheet

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   Trademarks would appear in which balance sheet section? Answer  Intangibles Investments Property, plant, and  equipment Current Assets 2 points    Question 8  1.    Which of the following accounts would be closed at the end of the year? Answer  Accounts Receivable Accumulated  Depreciation Accounts Payable Depreciation Expense 2 points   
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Question 9  1.    Which of the following would have a debit normal balance? Answer  Depreciation Expense Common Stock Sales Revenue All of the above 2 points    Question 10  1.    Rent Expense is increased with a: Answer  Debit Credit Both a and b are correct None of the above are  correct 2 points    Question 11  1.    The following information was taken from the year-end balance sheet of Able Auto Supplies, Inc.:  Cash $ 50,000 Accounts Payable 65,000 Prepaid Insurance 30,000 Salaries Payable 10,000 Accounts Receivable 60,000 Mortgage Payable 90,000Mortgage Payable is due is 5 years Inventory 70,000 Land held for future use 80,000 Land 95,000 Building 100,000 Accummulated Depr. (20,000) Trademark 70,000 Common Stock 120,000 Retained Earnings 250,000 Able Auto Supplies, Inc.’s working capital is
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Answer  $215,000 . $135,00 0. $40,000. $60,000. 2 points    Question 12  1.    Reporting a net income of $95,000 will: Answer  increase retained  earnings. decrease retained earnings. increase common stock. decrease common stock. 2 points    Question 13  1.    Which pair of the listed accounts have the opposite normal balance?
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