Fitch purchased 100 shares of Tommy Hilfiger,Inc.'s common stock for a total of $2,000.Mr.Fitch sells the 100 shares to Mr.Abercrombie for $2,300.This sale will cause Tommy Hilfiger,Inc.'s ________.

Question

Quizplus · Accepted Answer

The sale of the shares from Mr. Fitch to Mr. Abercrombie is a transaction between two shareholders and does not affect Tommy Hilfiger, Inc.'s accounting equation or financial statements.

Fitch Purchased 100 Shares of Tommy Hilfiger,Inc