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 paid for $1,800 of the bill from Public Relations Inc. on April 20, 2009.
The remaining balance was paid on May 5, 2009. How did these transactions affect Public Relations’ income statement for the month of April 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, 2009 Managed a party and billed the restaurant |
????? | ????? |
|
April 20, 2009 Restaurant 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) ????? |
