Which of the following explanations would apply in all situations? If total liabilities decreased by $25,000, then we know.... Either Assets or Shareholders' Equity must have increased by $25.000 The only thing which could have happened is that Assets must have increased by $25.000. Assets must have decreased by $25000 or shareholders equity must have increased by $25,000 The only thing which could have happened is that Shareholders Equity must have increased by $25.000 Assets must have increased by $25.000, To correctly record depreciation expense, the accountant would debit depreciation expense and credit accounts payable. Truc False You are an accounting clerk for a manufacturing company. You have just received an invoice from the utility (electricity) company, which you will not pay for 30 days. Year-end falls in between when you got the bill and when you will pay the bill. What entry should be posted to record this invoice? Debit utilities expense and credit Accounts Receivable. O Debit Uilities expense and credit accounts payable Debit Accounts Receivable and credit utilities expense. O Debit utilities expense and credit accrued payables. John wishes to record the purchase of $10,000 of parts used in manufacturing their new product in the ledger of XYZ Manufacturing Inc. They were paid for when they were delivered by way of a cheque. What journal entry would John post? Debit Supplies $10,000 & Credit Accounts Payable ($10.000) O Credit Inventory ($10,000) & Debit Cash $10.000 Debit Inventory $10,000 & Credit Cash (510.000) Debit Inventory $10,000 & Credit Accounts Receivable ($ 10.000) A trial balance, when it is not in balance, proves The mathematical inequality of debits and credits in the ledger. There are some transactions missing from the ledger. That all transactions have not been posted. O That all transactions have been recorded incorrectly