ManCo Manufacturing Company paid cash for commissions paid to sales staf Which o

Question

ManCo Manufacturing Company paid cash for commissions paid to sales staf Which of the following choices reflects how this event would affect the Company's balance sheet and income statement? Rev. - Exp. # Net Inc. Assets Liab. E n/a n/a Assets LiabEquity Rev. Exp.Net Inc. Assets Liab. E Assets uab. + Equ. ev: - Exp. ·Net Inc. Rev.-Exp. Net Inc. n/a s Liab Celestin Manufecturing Company incunred $5.000 of depreciation rst year of operation During t on ts manufacturing equipment during its this year the company made 2 500 units of product and soid 2 000 units of product. Based on th product Based on this information sione the company wouid show O $5.000 of depreciation expense on it income statement $4,000 of cost of goods sold eroense on its income statement O 55.000 of invertory on as baiance sheet O $4000 of inventory on s belance sheet Ps

Explanation / Answer

6. Assets = Liability + Equity Rev - Exp = Net Inc. - n/a - n/a + - is the choice which reflects correctly how this event would affect the Company's Balance Sheet and Income Statement. 7. Based on the information given, the Company would show $ 5,000 of depreciation expense on its Income Statement.

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