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2 years ago

Trade company accepted a credit card with a fee for services rendered. this event affects trade company's ______.

1 answer:

5 0

Trade company accepted a credit card with a fee for services rendered. this event affects trade company's income statement, statement of changes in stockholders equity, balance sheet.

<h3>Income statement</h3>

The event tend to affect income statement because both service revenue as well as credit card expense appear on the income statement.

The event tend to affect statement of changes in stockholders equity because net income is affected by the income and expenditure and it will affect balance sheet because accounts receivable appears on the balance sheet.

Therefore Trade company accepted a credit card with a fee for services rendered. this event affects trade company's income statement, statement of changes in stockholders equity, balance sheet.

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