Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has
been completed as an example. (If an amount has a decreasing effect use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45). Do not use a dollar sign $ for negative answers.) Cash Net Income (a) Purchased $100 of supplies for cash. -$100 $0 (b) Recorded an adjusting entry to record use of $40 of the above supplies. (c) Made sales of $1,300, all on account. (d) Received $800 from customers in payment of their accounts. (e) Purchased equipment for cash, $2,500. (f) Recorded depreciation of building for period used, $600.
A: The answers are (a) just (100) .. no 0 (b) doesn't effect cash (c) 1,300 <- you're receivables go up.. not cash (d) 800 <- -cash went up (e) (2,500) <- - cash went down because you purchased an item (f) 600 <- you add depreciation
Expert answered|armageddon|Points 586|
Question
Asked 4/5/2013 5:27:23 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
26,528,341 questions answered
Popular Conversations
What is the primary mission of the Department of Homeland ...
Weegy: The primary mission of the Department of Homeland Security is " ensuring that the United States and its citizens ...
12/12/2017 7:12:59 AM| 4 Answers
This year, after a lengthy, noisy debate, they decided to take ...
Weegy: This year, after a lengthy, noisy debate, they decided to take separate vacations. This is a Simple Sentence. ...
12/10/2017 4:51:34 AM| 4 Answers
Which one of the following types of sentences gives a command or ...
Weegy: Do your work! The sentence above is an example of an IMPERATIVE sentence. User: Which one of the following ...
12/8/2017 6:12:32 AM| 3 Answers
A scientific _______ is a principle that describes the behavior of a ...
Weegy: A scientific LAW is a principle that describes the behavior of a natural phenomenon. User: The gradient of ...
12/4/2017 2:17:59 PM| 2 Answers
Shakespeare was born in London in 1564. User: Jonathan Swift ...
Weegy: Jonathan Swift wrote Gulliver's Travels. TRUE. User: Shelley's life was contrary to the ideas he explored in ...
12/13/2017 7:08:02 AM| 2 Answers
Solve for x in the equation x + 10 = 15
Weegy: 39 squared is 1521 User: value of 12.5 × 107
12/14/2017 7:38:54 AM| 2 Answers
The American College of Sports Medicine (ACSM) recommends doing ...
Weegy: I thing adults should get at least 150 minutes of moderate-intensity exercise per week. [ Exercise ...
12/6/2017 9:19:04 AM| 2 Answers
Weegy Stuff
S
L
Points 96 [Total 112] Ratings 4 Comments 56 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 5 [Total 5] Ratings 0 Comments 5 Invitations 0 Offline
S
P
L
P
Points 1 [Total 166] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.