true or false

1- The first book to describe double entry book keeping was written Lucas Pacioli in 1994.

2-

The opening balances on the cash account is $100,000. The following transactions occurred during the period.

• Paid James Service Station $10,000 for fuel taken on credit.
• Received $50,000 from Marsha in full settlement of her debt.
• Paid Staff Salaries by cheque $100,000
• Withdrew Cash from the Bank for Business use $20,000
• The owner withdrew cash from the bank for personal use. $15,000
• Purchase Goods on Credit $25,000 from Marlin's Variety Store
• Paid Marlin's Variety Store in full settlement of the debt

What is the closing balance on the Cash Account?

a.

$50,000

b.

$100,000

c.

$150,000

d.

$135,000