help with #2

an increase in liabilities 750 5,100 2. The following account balances were drawn from the 2012 financial statements of Flynn Company Cash $2,200 Certificate of Deposit $500 AR Common Stock Land 600 Retained Earnings 2,800 Revenues Expenses 2,450 Based on the above information, what is the balance of Common Stock for Flynn Company? a. $750 b. $1,250 c. $3,400 d. $6,200 2800 BASO 3,550.500 Retaine $450 38007 2450 3. Which of the following statements is true in regard to accrual accounting? a. Revenue is recorded only when cash is received