Multiple Choice
Which of the following happens as a result of selling $130 of merchandise to a customer for $200 cash in a state where the sales tax rate is 4%?
A) The cash flow from operating activities increases by $208.
B) Total assets increase by $78.
C) Stockholder's equity increases by $70.
D) All of these answer choices are correct.
Correct Answer:

Verified
Correct Answer:
Verified
Q42: When do the effects of warranty obligations
Q43: How does the going concern assumption affect
Q44: Use the information on January 1,Year 1
Q45: Which of the following is a claims
Q46: In September of Year 1,Hansen Company issued
Q48: [The following information applies to the questions
Q49: [The following information applies to the questions
Q50: On October 1,Year 1,Harrison Company borrowed money
Q51: Monthly remittance of sales tax due has
Q52: What is the effect of the accrual