Question 17 (1 point) If the credit to record the payment of an account payable is not posted Liabilities will be understated Expenses will be understated Cash will be overstated Which statement is false? A trial balance is the same as a balance sheet A trial balance can verify the equality of debits and credits A trial balance lists all the accounts with their current balances  A business's purchase of a $100,000 building with an $85,000 mortgage payable and issuance of $15,000 of common shares will Increase shareholders' equity by $15,000 Increase assets by $85,000 Increase assets by $15,000 A new company completed the below transactions: Shareholders invested $50,000 cash and inventory worth $25,000, Sales on account $12,000. What will be the total assets? $87,000 $75,000 $63,000

Answer rating: 100% (QA)

The false statement is A trial balance is the same as a balance sheet A ... View the full answer