I=increase

D=decrease

N=no effect

While reconciling Snyder Company's bank statement, an accountant discovered a bank service charge of $12.

Assets	Liabilities	Equity	Revenues	Expenses	Net income	Cash

Shell uses the FIFO inventory cost flow method. When her income tax is paid what is the effect of the entry on the financial statements. Note: no tax liability has been accrued.

Assets	Liabilities	Equity	Revenues	Expenses	Net income	Cash

1.On January1,2012, Hartnett Company Carries Inventory at the lower of cost or market on an aggregate basis. The cost of the inventory was 19,456 but the current market value is $18,500. Assuming the perpetual inventory system is used, how will the write-down affect the the financial statements?

Assets	Liabilities	Equity	Revenues	Expenses	Net income	Cash

2.Bella Co. sold merchandise to a customer for $ 2,400 cash. The merchandise had originally cost $ 1,800.

Assets	Liabilities	Equity	Revenues	Expenses	Net income	Cash