https html o Quiz (LO2) Assessment 5: On December 31, Year 1 Hilton... LO 2-2 On
ID: 2331809 • Letter: H
Question
https html o Quiz (LO2) Assessment 5: On December 31, Year 1 Hilton... LO 2-2 On December 31, Year 1 Hiltion Company recognized $600 of accrued salary expense. Hilton paid cash to the employees o of the following shows how these events will afect Hilton's financial statements on December 31, Year 1? Balance sheet Income Statement Statement of ExpNet Inc.Cash Flows AssetsLiabilitiesEquity Rev. +(60) NA (600) NA (600) (608 (600 NA(600) 600 600 600 600 NA 6e0 NA 600 NA 600 NA Multiple Choice Option A Prev NextExplanation / Answer
Balance sheet
Income Statement
Statement of Cash Flows
Assets
=
Liabilities
+
Equity
Rev.
-
Exp.
=
Net Inc.
B.
NA
=
600
+
-600
NA
-
600
=
-600
NA
Option B is the correct answer
Balance sheet
Income Statement
Statement of Cash Flows
Assets
=
Liabilities
+
Equity
Rev.
-
Exp.
=
Net Inc.
B.
NA
=
600
+
-600
NA
-
600
=
-600
NA
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