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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Diamond Investments, Inc. purchased 40% of the common stock of Ivory Corporation on March 1, 2016. Ivory Corporation reports a net income of $675,000 for the year 2017. Which of the following is true of the balance sheet on December 31, 2017?
A) Total equity will increase.
B) Cash will increase.
C) Total liabilities will decrease.
D) Total assets will remain unchanged.
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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#3
7 years ago
I'm liking this Slight Smile
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