Public Relations Inc.managed a grand opening party on behalf of a new restaurant on April 15, 2009. Public Relations charged the restaurant $2,100.
The restaurant paidfor $1,800 of the bill from Public Relations Inc.on April 20, 2009.
The remaining balancewas paid on May 5, 2009. How did these transactions affectPublic Relations’ income statement for the month ofApril and for the balance sheet at April 30, 2009?
Transaction
How did effect net income?
Multiple choice:
(Decreased, Increased,
Net effect of $0.00 or No effect)
how did it effect balance sheet?
Multiple choice:
(Decreased, Increased,
Net effect of $0.00 or No effect)
April 15, 2009Managed a party and billed the restaurant
??????????
April 20, 2009Restaurant partially paid the invoice owed to Public Relations
How did it effect Net income?
Multiple choice?
(Decreased, Increased,
Net effect of $0.00 or No effect)
????
how did it effect on balance sheet
Multiple choice?
(Decreased, Increased,
Net effect of $0.00 or No effect)
?????
