accounting 231 multiple choices

Question 8 0 / 0.5 pts After adjusting entries are made your company has the following account balances on 12/31/2019: Cash $102,500, Accounts Receivable $2,500, Accounts Payable $500, Common Stock $15,000, Retained Earnings $7,000, Revenue $245,000, Wages Expense $150,000, Rent Expense $10,000, Supplies Expense $2,500. What is the closing journal entry needed on 12/31/2019? DR Revenue $245,000; CR Wages Expense $150,000; CR Rent Expense $10,000; CR Supplies Expense $2,500; CR Retained Earnings $82,500 DR Accounts Payable $500; DR Common Stock $15,000; DR Retained Earnings $89,500; CR Cash $102,500; CR Accounts Receivable $2,500 O DR Retained Earnings $82,500; DR Wages Expense $150,000, DR Rent Expense $10,000; DR Supplies Expense $2,500; CR Revenue $245,000 DR Cash $102,500; DR Accounts Receivable $2,500, CR Accounts Payable $500; CR Common Stock $15,000; CR Retained Earnings $89,500Question 9 0 l 0.5 pts How does a debit to Accounts Receivable and a credit to Revenue affect the accounting equation? 5 An increasein Assets and an increase in Liabilities An increase in Assets and another increase in Assets Increase in Assets and an increase in Stockholders' Equity No net change. Assets are both increased and decreased Question 10 0 l 0.5 pts How does a debit to Cash and credit to Accounts Receivable affect the accounting equation? No net change. Assets are both increased and decreased An increase to Assets and an increase in Liabilities Increase in Assets and an increase in Stockholders' Equity An increase in Assets and another increase in Assets