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Find a trial balance consists of

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Reference no: EM132739458

Problem 1: If a company purchases equipment for cash:

Multiple Choice

Option 1: Assets will increase and owners' equity will also increase.
Option 2: Assets will increase and owners' equity will decrease.
Option 3: Assets will increase and owners' equity will remain unchanged.
Option 4: Total assets and owners' equity will remain unchanged.

Problem 2: A trial balance consists of:

Multiple Choice

Option 1: A two-column schedule of all debit and credit entries posted to ledger accounts.
Option 2: A two-column financial statement intended for distribution to interested parties outside the business.
Option 3: A two-column schedule showing the totals of all debits and of all credits made in journal entries.
Option 4: A two-column schedule listing names and balances of all ledger accounts.

Reference no: EM132739458

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