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Cassie Companys bank statement contained a $75 service charge. Which of the following shows how recognizing this charge will affect Cassies financial statements? Balance sheet
Cassie Companys bank statement contained a $75 service charge. Which of the following shows how recognizing this charge will affect Cassies financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||||
| Assets | = | ||||||||||||
| Cash | + | Acc.Rec | = | Liab. | + | Equity | Rev. | ? | Exp. | = | Net Inc. | ||
| A. | 75 | + | NA | = | NA | + | 75 | 75 | - | NA | = | 75 | 75 OA |
| B. | (75) | + | NA | = | NA | + | (75) | NA | - | 75 | = | (75) | NA |
| C. | (75) | + | NA | = | NA | + | (75) | NA | - | 75 | = | (75) | (75) OA |
| D. | (75) | + | 75 | = | NA | + | NA | NA | - | NA | = | NA | (75) OA |
A. Option A
B. Option B
C. Option C
D. Option D
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Financial Accounting In An Economic Context
Authors: Jamie Pratt
7th Edition
0470128828, 978-0470128824
