Question

Pepperdine Company paid factory rent of $10,000. At the time this transaction occurred, it did not affect total assets or net income. True or false?

Answer 1

True

Step-by-step explanation:

As at the time factory rent was paid by Pepperdine company, it did notaffect toatal assets as the factory is an asset of he company as it is rented. I also doesn't affect the net income since the rent is going to included in capital for the company.

Cheers.