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Angel Company recognized $500 of estimated manufacturing overhead costs at the end of the month. How does this transaction affect the financial statements? Assets =
Angel Company recognized $500 of estimated manufacturing overhead costs at the end of the month. How does this transaction affect the financial statements?
| Assets | = | Liabilities | + | Equity | Revenue | Expenses | = | Net Income | |||
| Manufacturing Overhead | + | Work in Process Inventory | |||||||||
Multiple Choice
-
(500) + NA = NA + (500) NA 500 = (500) -
(500) + NA = (500) + NA NA NA = NA -
(500) + 500 = NA + NA NA NA = NA -
500 + (500) = NA + NA NA NA = NA
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Auditors Guide To IT Auditing Software Demo
Authors: Richard E. Cascarino
2nd Edition
1118147618, 978-1118147610
