BUS-A200 Practice Exam 1B EXAM QUESTIONS AND VERIFIED ANSWERS 2026

BUS-A200 Practice Exam 1B
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If the beginning and the ending A. $44,000
balances in retained earnings are
$14,000 and $18,000, respectively, B. $40,000
and dividends during the year are
$40,000, then net income for the C. $4,000
year is:
D. Indeterminable from the data given


+ Beg R/E $14,000
+ Net Income $44,000
- Div $40,000
= End R/E $18,000


Which of the following changes A. Assets and owner's equity increase by$1,000.
describes the collection of $1,000
from accounts receivable? B. Assets and owner's equity decrease by$1,000.


C. Assets and liabilities increase by$1,000.


D. Assets and liabilities decrease by $1,000.


E. No changes in total assets, liabilities, or owner's
equity.


Cash goes up, accounts receivable goes down, no
change in total assets

, Carla Company reports total assets A. $225,000
and total liabilities of $425,000 and
$200,000, respectively, at the B. $180,000
conclusion of its first year of
business. The company earned C. $130,000
$95,000 during the first year and
distributed $50,000 in dividends. D. $65,000


What was the firm's contributed
capital?
A=L*E


Assets $425,000
=
Liabilities $200,000
+
Equity:
Contributed Capital $180,000
R/E $45,000