Question - Wyman Company is a manufacturer. During the current month, Wyman paid $12,000 rental on equipment in its factory (production equipment),$8,000 rental on equipment in its offices (copiers), and $6,500 for labor to production line employees. It did not sell any goods.
Compute the following:
Wyman's total expense on its income statement:
Wyman's total current asset cost on its balance sheet:
Wyman's total long-term asset cost on its balance sheet: