Carrie billed her legal clients $8,000 for legal work completed during the month.This transaction will:
A) cause a $8,000 increase in revenues and liabilities.
B) cause a $8,000 increase in revenues and a decrease in liabilities.
C) cause a $8,000 increase in assets and revenues.
D) not be recorded until the cash is collected.
Correct Answer:
Verified
Q60: Which of the following would result if
Q61: Boxes R' Us paid $5,000 in salaries
Q67: Ryan withdrew cash from the business to
Q67: Go Blue Retail Store collected $10,000 of
Q68: In a shift of assets, the composition
Q71: The payment of accounts payable would
A) increase
Q85: Revenue, expenses, and withdrawals are subdivisions of
A)
Q97: If 'Ol Fashioned Toys' revenues are greater
Q111: If a company's revenues are higher than
Q113: Expenses
A) are costs the company incurs in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents