Maurice Corporation invested $100,000 to acquire 20,000 shares of Delta Technologies,Inc.on March 1,2017.Delta pays a cash dividend of $0.25 per share on July 2,2018.The investment is classified as available-for-sale.Based on these two transactions,which of the following is true of the accounting equation as of July 2,2018?
A) Total assets in the balance sheet will remain unchanged.
B) Current assets in the balance sheet will remain unchanged.
C) Equity in the balance sheet will increase.
D) Total liabilities in the balance sheet will increase.
Correct Answer:
Verified
Q61: When a company collects the face value
Q63: Griffin Corporation invested $136,000 to acquire 27,000
Q64: Green Services,Inc.invests its excess cash in Creative
Q66: Equity securities in which the investor owns
Q67: When a company receives a dividend payment
Q70: Ashbrook Services,Inc.acquired 126,000 shares of Gamma Metals,Inc.on
Q71: Anthem Corporation has excess cash to invest
Q72: Equity securities,in which the investor owns less
Q73: Which of the following is the major
Q95: When a company collects the face value
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