owed Based on this information, determine the total dollar amount of credits tha
ID: 2333668 • Letter: O
Question
owed Based on this information, determine the total dollar amount of credits that would appear in the company's trial balance. A. $63,000 B. $67,000 C. $64,000 D. $69,000 E $65,000 5. Answer the following as true or false, then select the correct corresponding multiple- choice answer The normal balance of all liability accounts is a credit. The accounting equation stays in balance after each transaction is recorded. F F_If debits equal credits in a trial balance, that is proof that no recording errors have been made. A. True, True, True B. True, True, False C.False, True, False D. True, False, False E. False, False, False Use the following information for the next 2 questions: Following are the transactions for ABC Computer Service's first month of business, September 2018: Sept The owner invested $10,000 into the business in exchange for common stock.Explanation / Answer
True - the normal balance of all liabilities account is credit
True -
False
hence the correct option should be B
(note-Normal balance is the side where the balance of the account is normally found. Asset accounts normally have debit balances, while liabilities and capital normally have credit balances. )
True - the normal balance of all liabilities account is credit
True -
False
hence the correct option should be B
(note-Normal balance is the side where the balance of the account is normally found. Asset accounts normally have debit balances, while liabilities and capital normally have credit balances. )
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