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QUESTION 4 Which of the following transactions impacts Stockholder's Equity, but does not impact Net Income: OA. Cash payment from customer in advance of services
QUESTION 4 Which of the following transactions impacts Stockholder's Equity, but does not impact Net Income: OA. Cash payment from customer in advance of services rendered. BCollection of payment from a customer who was bill a year earlier. OC.Purchase of office supplies. OD.Payment of a dividend. QUESTION 5 Adams and Adams, Inc. (AA), a law firm prepares ANNUAL financial statements at December 31 each year. The following questions relate to the adjusting entries recorded at December 31, 2018. At January 1, 2018, AA had $500 of supplies. AA purchased $9,500 of supplies during 2018 and added them to the Office Supplies account. At the end of 2018, the supplies we ill e counted and the amount still in the supply room was $1,200. The necessary adjusting entry )A. Decrease (cred it) Office Supplies by $8,800 B. Decrease (cred it) Office Supplies by $1,200 C.Increase (debit) Office Supplies by $1,200
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