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Howard Company purchased $300 of supplies on account. Which of the following shows how is purchase will affect Howard's financial statements? Balance Sheet Income
Howard Company purchased $300 of supplies on account. Which of the following shows how is purchase will affect Howard's financial statements? Balance Sheet Income Statement Statement of Assets Liab. + Equity Rev. Exp. Net Inc. Cash Flows A. = NA + NA NA = NA -OA B. 300 = 300 + NA NA NA = NA NA C. = 300 + (300) 300 = (300) D. (300) = NA + (300) NA 300 = (300) -OA
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