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Frank Company Earned $15,000 of Cash Revenue A) Option a
B) Option B
C) Option C
D)

Question 64

Multiple Choice

Frank Company earned $15,000 of cash revenue.Which of the following accurately reflects how this event affects the company's accounting equation?
 Assets = Liabilities + Common  Stock + Retained  Earnings  A 15,000= NA +15,000+ NA  B. 15,000= NA +7,500+7,500 C. 15,000= NA + NA +15,000 D. 15,000=15,000+ NA + NA \begin{array}{|c|c|c|c|c|c|c|c|} \hline& \text { Assets } & = & \text { Liabilities } & + & \begin{array}{c}\text { Common } \\\text { Stock }\end{array} & + & \begin{array}{c}\text { Retained } \\\text { Earnings }\end{array} \\\hline \text { A } & 15,000 & = & \text { NA } & + & 15,000 & + & \text { NA } \\\hline \text { B. } & 15,000 & = & \text { NA } & + & 7,500 & + & 7,500 \\\hline \text { C. } & 15,000 & = & \text { NA } & + & \text { NA } & + & 15,000 \\\hline \text { D. } & 15,000 & = & 15,000 & + & \text { NA } & + & \text { NA } \\\hline\end{array}


A) Option A
B) Option B
C) Option C
D) Option D

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