Multiple Choice
O'Hare Company is a manufacturing firm that uses a job-order cost system to determine the costs of its products. O'Hare Company sold job #132 for $8,200 cash. The job cost sheet for that job reported total manufacturing costs of $5,900. The recognition of this event on the financial statements would include a(n) :
A) Decrease to total assets and total equity.
B) Decrease to total liabilities.
C) Increase to total assets, total equity and net income.
D) Decrease to net income.
Correct Answer:
Verified
Correct Answer:
Verified
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