1.

2. an expense account normally has a credit balance - T / F ?

3. The financial statement that summarizes how equity changes over the reporting period is called the balance sheet. true or false

4.

The Dividends account is normally closed by debiting it. - true or false

Use the following information as of December 31 to determine equity. Cash Buildings Equipment Liabilities $ 57,000 175,000 206,000 141,000 Multiple Choice $57,000 O $141,000 $297,000. O $438,000. $579,000