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  3. 19. owner's equity is decreased by all of the foll

19. Owner's equity is decreased by all of the following except A) expenses. B) owner's...

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Accounting

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19. Owner's equity is decreased by all of the following except A) expenses. B) owner's drawings. C) owner's investments. 20. What type of transaction will cause the trial balance to be out of balance? A) One account is debited and one account is credited for the same wrong amounts. B) One account is debited and one account is credited for the correct amounts. C) Two accounts are debited for the same amount, but one account should be credited. D) No entry is recorded. 21. Red Company's inventory records show the following data: Inventory, Purchases: January 1 June 18 November 8 Units 5,000 3.000 2,000 Unit Cost $9.00 7.00 6.00 A physical inventory on December 31 shows 3,000 units on hand. Under the FIFO method, the December 31 inventory value is A) $25,000. B) $27,000. C) $21,000. D) S19.000. 22. Machinery was purchased for S500,000 and has a book value of $150,000 and a depreciable cost of $450,000. The estimated salvage value is A) $75,000. B) $25,000. C) S100,000. D) $50,000. assets and 23. An adjusting entry to record supplies expense expenses. A) decreases; increases B) decreases; decreases C) increases, increases D) increases, decreases

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