The Surfboard Centre paid $5,000 cash for inventory. These boards are on display in their showroom. This transaction will: Group of answer choices 1.increase total assets and shareholders equity. 2.increase total assets and have no effect on shareholders equity. 3.decrease total assets and shareholders equity. 4.have no effect on total assets or shareholders equity.

California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $31 per share. Later in the year, the company decides to purchase 100 shares at a cost of $34 per share.Record the transaction if California Surf resells the 100 shares of treasury stock at $36 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Given the following, what is the amount of equity. Premises 50,000; bank overdraft 5000; Stock 18,500; Cash 1100; Creditors 3,000 A. 71600 B. 66100 C. 87500 D. 61600

Your Surf Shop sells two types of surfboards. The first, type A, costs $201 and you make a $22 profit on each one. The second, type B, costs $178 and you make a $16 profit on each one. You can order no more than 110 surfboards this month, and you need to make at least $1820 profit on them. If you must order at least one of each type of surfboard, how many of each type of surfboard should you order if you want to minimize your cost?

Croft Company sold land costing $10,000 for $12,000. In the investing activities section of the statement of cash flows, the company will report:Multiple ChoiceAn outflow of $12,000An inflow of $2,000An inflow of $12,000An outflow of $10,000

XYZ Company has assets and liabilities of $15,000 and $12,000, respectively. If the company issues an additional $1,500 of stock for cash, what will be the balance in shareholders' equity following the transaction?