The Utility Company provided services to Hardwick Company on account. Which of the following would describe...

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The Utility Company provided services to Hardwick Company on account. Which of the following would describe...

The Utility Company provided services to Hardwick Company on account. Which of the following would describe the transaction’s effect on Hardwick Company's financial statements?

A) Accounts Receivable NA, Accounts Payable +, Common Stock NA, Retained Earnings -, Rev. NA, Exp. NA, Net Inc. NA

B) Accounts Receivable +, Accounts Payable NA, Common Stock NA, Retained Earnings +, Rev. +, Exp. NA, Net Inc. +

C) Accounts Receivable +, Accounts Payable NA, Common Stock NA, Retained Earnings +, Rev. NA, Exp. NA, Net Inc. NA

business accounting

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Answer 1

Answer #1

B)

Accounts Receivable +

Accounts Payable NA,

Common Stock NA

Retained Earnings +

Rev. +

Exp. NA

Net Inc. +

As services are provided on account, account receivables balance increased.

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Answer 2

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The Utility Company provided services to Hardwick Company on account. Which of the following would describe...

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