If Houston Company billed a client for $11,000 of consulting work completed, the accounts receivable asset increases by $11,000 and:

Complete Question:

If Houston Company billed a client for 11,000 of consulting work completed, the accounts receivable asset increases by $11,000 and:

A. Revenue decreases $11,000.

B. Cash increases $11,000.

C. Accounts payable increases $11,000.

D. Revenue increases $11,000.

E. Accounts payable decreases $11,000

If Houston Company billed a client for 11,000 of consulting work completed, the accounts receivable asset increases by $11,000 and:

D. Revenue increases $11,000.

Explanation:

This increase in revenue increases the retained earnings (equity) of Houston Company.  The result is that the accounting equation will remain in balance with assets = $11,000 and Liabilities + Equity = $11,000.  This accounting equation is the basis for the double-entry system of financial accounting.  Provided that transactions are correctly recorded and accurately posted to their respective accounts, the accounting equation will not go out of balance.

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