Homework Answers
Solution:- D. the 2019 income statement.
Note:- Expenses impact the income statement only in the year in which it incurred but it appear in the balance sheet until it not paid.
Net Income and income statement impact by accrual revenue earn and expenses incurred but there is no change in cash account at the recording of accrual revenue or expenses.
Accrual expenses appear in income statement and the balance sheet in year in which it incurred and also appear in upcoming year’s balance sheet until it not paid.
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