Cohen Company Experienced an Accounting Event That Affected Its Financial

question 238

Multiple Choice

Cohen Company experienced an accounting event that affected its financial statements as indicated below: $$\begin{array} { | c | c | c | c | c | c | c | c | c | c | c | } \hline \begin{array} { c } \text { Assets } \\+\end{array} & = & \begin{array} { c } \text { Liab. } \\\text { NA }\end{array} & + & \begin{array} { c } \text { Equity } \\+\end{array} & \begin{array} { c } \text { Rev } \\\text { NA }\end{array} & - & \begin{array} { c } \text { Exp } \\\text { NA }\end{array} & = & \begin{array} { c } \text { Net } \\\text { Inc. } \\\text { NA }\end{array} & \begin{array} { c } \text { Cash } \\\text { Flow } \\+ \text { FA }\end{array} \\\hline\end{array}$$ Which of the following accounting events could have caused these effects on Cohen's statements?

• A) Paid a cash dividend.
• B) Earned cash revenue.
• C) Borrowed money from a bank.
• D) Issued common stock.

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Definitions:

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