The balance sheet of a service company would include which of the following?
A)Factory equipment depreciation
B)Cost of goods manufactured
C)Accounts receivable
D)Cost of goods sold

Question

Quizplus · Accepted Answer

A service company does not manufacture goods, so it would not have a cost of goods manufactured or cost of goods sold. However, it would have accounts receivable for services that have been provided but not yet paid for. Factory equipment depreciation would be found on the balance sheet of a manufacturing company that owns equipment used in production.

The Balance Sheet of a Service Company Would Include Which