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When is a trial balance usually prepared? O A. before the financial statements are prepared OB. at the beginning of an accounThe following transactions have been journalized and posted to the proper accounts. March is the first month of business operSaturn, Inc. paid $11,000 on accounts payable. How does this transaction affect the accounting equation of Saturn? O A. asset

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Answer #1

Ans:

1.Ans:A.before the financial Statements are prepared

2.Ans:D.$10,000 is Correct answer-----

Ending balance in the Service Revenue​account= $10,000
.
Explanation:
The amount received from customer on account previously recorded as revenue is not revenue for current period and will not affect service revenue balance.

The amount billed to customer in current period will be added to service revenue earned. The ending balance will be $10,000

3.
Ans:B.Assets Decrease by $11,000 and Liabilities Decrease by $11,000

Explantion
When Accounts payable paid then entry is

Accounts payable debit and Cash is credit which leads to Assets Decrease because of cash credit by $11,000 and Liabilities Decrease becuase of accounts payable debit by $11,000

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