A transaction has been recorded in the T-accounts of Horowitz Corporation as follows: CashDebitCredit25,000 Common StockDebitCredit 25,000 Which of the following reflects how this event affects the company’s financial statements? Balance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+Stockholders’ EquityRevenue-Expense=Net IncomeA.Increase=Increase+ – = Increase Financing Activity (FA)B.Increase= +Increase – = Increase Financing Activity (FA)C.Decrease= +DecreaseDecrease- =DecreaseIncrease Operating Activity (OA)D.Decrease=Decrease+ -Increase=DecreaseDecrease Investing Activity (IA)

A company experienced an accounting event that is shown in the following T-accounts: CashDebitCredit 1,300 DividendsDebitCredit1,300 Which of the following reflects how this event affects the company’s financial statements?

ABC Company experienced an accounting event that is shown in the following T-accounts: CashDebitCredit3,000 Unearned RevenueDebitCredit 3,000 Which of the following reflects how this event affects the company’s financial statements?

What happens when a company collects cash from accounts receivable?

Which of the following are shown on the balance sheet? Total assets Land Common Stock Net Change in Cash Revenue Notes Payable Retained Earnings Total Liabilities and Stockholders’ Equity Expenses Net Income Beginning cash balance Dividends

How does the adjusting entry to recognize the portion of the unearned revenue that a company earned during the accounting period affect the financial statements?

Garrison Company acquired $23,000 by issuing common stock. Which of the following accurately reflects how this event affects the company’s accounting equation? Assets=Liabilities+Common Stock+Retained EarningsA.23,000= +23,000+ B. =23,000+(23,000)+ C. = +23,000+(23,000)D.23,000= + +23,000

A transaction has been recorded in the T-accounts of Horowitz Corporation as follows: CashDebitCredit25,000 Common StockDebitCredit 25,000 Which of the following reflects how this event affects the company’s financial statements? Balance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+Stockholders’ EquityRevenue-Expense=Net IncomeA.Increase=Increase+ – = Increase Financing Activity (FA)B.Increase= +Increase – = Increase Financing Activity (FA)C.Decrease= +DecreaseDecrease- =DecreaseIncrease Operating Activity (OA)D.Decrease=Decrease+ -Increase=DecreaseDecrease Investing Activity (IA)

Callahan Corporation recorded an adjusting entry using T-accounts as follows: Interest ReceivableDebitCredit75 Interest RevenueDebitCredit 75 Which of the following reflects how this adjustment affects the company’s financial statements? Balance SheetIncome StatementStatement of Cash FlowsAssets=Liabilities+Stockholders’ EquityRevenue−Expense=Net IncomeA.Increase=Increase+ − = Increase Financing Activity (FA)B.Increase= +IncreaseIncrease− =Increase C.Increase= +IncreaseIncrease− =IncreaseIncrease Operating Activity (OA)D.Decrease= + Decrease− =Decrease

Garrison Company acquired $23,000 by issuing common stock. Which of the following accurately reflects how this event affects the company’s accounting equation? Assets=Liabilities+Common Stock+Retained EarningsA.23,000= +23,000+ B. =23,000+(23,000)+ C. = +23,000+(23,000)D.23,000= + +23,000