Answered: Which of the following accounts does a…

Which of the following accounts does a manufacturing company have that a service company does not have? a. Advertising Expense b. Salaries Payable c. Cost of Goods Sold d. Retained Earnings

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 5MC: Which of the following represents the components of the income statement for a manufacturing...

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Question

Which of the following accounts does a manufacturing company have that a service company does not have?

a. Advertising Expense

b. Salaries Payable

c. Cost of Goods Sold

d. Retained Earnings

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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