Queen Elizabeth Computer Repair Shop started the year with total assets of

$312000 and total liabilities of $220000. During the year, the business recorded
$499000 in computer repair revenues, $312000 in expenses, and Pharoah paid
dividends of $50400. Stockholders' equity at the end of the year was

Entry field with incorrect answer

($312000 - $220000) + ($499000 - $312000) - $50400 = $228600.

A credit to a revenue account

A must be accompanied by a debit to an expense account.

B indicates an increase in revenues earned.
C is an error.
D indicates a decrease in revenues earned.

The trial balance of Clooney Company had accounts with the following normal
balances: Cash 5,000 pounds, Revenue 85,000 pounds, Salaries and Wages
Payable 4,000, Salaries and Wages Expense 40,000, Rent Expense 10,000,
Common Stock 42,000; Dividends 15,000; Equipment 61,000. In preparing a trial
balance, the total in the debit column is

A 91,000.
B 216,000.
C 131,000.
D 116,000.

Golden Bridge Inc. pays its employees twice a month, on the 7th and the 21st. On
June 21, Marigold Inc. paid employee salaries of 4820 pounds. This transaction
would

A increase stockholders' equity by 4820.

B be recorded by a 4820 debit to Salaries and Wages Payable and a 3820 credit to
Salaries and Wages Expense.
C decrease the balance in Salaries and Wages Expense by 4820.
D decrease net income for the month by 4820.