Which of the following September transactions would impact the September income statement?
A) Collecting cash related to an account receivable
B) Providing services
C) Purchasing supplies
D) Issuing stock to new shareholders

Question

Quizplus · Accepted Answer

Providing services would generate revenue and expenses, thus impacting the income statement. Collecting cash related to an account receivable would not impact the income statement as it relates to past revenue. Purchasing supplies and issuing stock to new shareholders are both balance sheet transactions and would not impact the income statement.

Which of the Following September Transactions Would Impact the September