Which of the following statements is true?

a)Closing expense accounts increase total stockholders equity.

b)Closing the dividend account increases total stockholders equity.

c)None of the statements is true.

Closing the dividends account would require which of the following?

a)A debit to the retained earnings account.

b)A debit to the dividends account.

c)A credit to the common stock account.

Which of the following statements regarding a trial balance is true?

a)Most companies prepare a trial balance only once during the accounting period.

b)The accounting records may contain errors even if the total amount of debit and credit balances are equal.

c)The accounting records may be error free even if the total amount of debit and credit balances are not equal.

The following adjusted trial balance was drawn from the records of the Dakota Company.

Account Title	Dr	Cr
Cash	500
Equipment	2,000
Accounts Payable		1,000
Common Stock		700
Retained Earnings		600
Service Revenue		900
Operating Expenses	600
Dividends	100
Totals	3,200	3,200

Based on the information in the trial balance, the total amount of the debit column is

a)higher than the total amount of assets that will appear on the balance sheet.

b)lower than the total amount of assets that will appear on the balance sheet.

c)equal to the total amount of expenses and dividends.

The following adjusted trial balance was drawn from the records of the Dakota Company.

Account Title	Dr	Cr
Cash	500
Equipment	2,000
Accounts Payable		1,000
Common Stock		700
Retained Earnings		600
Service Revenue		900
Operating Expenses	600
Dividends	100
Totals	3,200	3,200

Based on the information in the trial balance, the amount of cash flow from operating activities would be

a)$500.

b)$300.

c)The amount of cash flow from operating activities cannot be determined from the information provided in the trial balance.