Question and answer
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.
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.
17,203,988 questions answered
Popular Conversations
1. Write using exponents. (–4)(–4)
Weegy: Hi! (-4)(-4) is equal to (-4)^2 User: Simplify. Show your work. 5 1/3 +(-3 9/18) Weegy: 5 1/3 +(-3 9/18) ...
9/2/2014 6:06:05 PM| 6 Answers
Consider this quote: "In each of these historical instances . . . ...
Weegy: D. it stands for the omission of only a single word. User: Which of the following statements correctly ...
9/1/2014 8:30:28 AM| 2 Answers
The invasion of this region temporarily halted the fighting between ...
Weegy: The invasion of A.Korea halted the the fighting between the KMT and CPC. User: The letters DMZ stand for ...
9/1/2014 3:12:20 PM| 2 Answers
what is a complex sentence
Weegy: User: what is a simple sentence Weegy: User: what is a compound sentence Weegy: A compound sentence ...
9/1/2014 5:04:39 PM| 2 Answers
Every set of three points is coplanar.
9/1/2014 7:59:14 PM| 2 Answers
Weegy Stuff
S
L
1
L
P
C
1
Points 224 [Total 6757]| Ratings 0| Comments 224| Invitations 0|Offline
S
R
L
1
1
P
C
1
P
1
1
L
P
C
P
C
1
P
C
L
P
C
1
P
C
P
C
P
C
Points 222 [Total 24621]| Ratings 0| Comments 222| Invitations 0|Offline
S
L
C
P
C
1
L
L
P
C
1
Points 185 [Total 16124]| Ratings 1| Comments 175| Invitations 0|Online
S
L
1
1
1
1
L
1
Points 149 [Total 9929]| Ratings 0| Comments 149| Invitations 0|Offline
S
L
P
C
L
P
C
P
C
L
P
C
P
C
P
C
Points 116 [Total 17288]| Ratings 0| Comments 116| Invitations 0|Offline
S
L
P
C
P
C
1
L
P
C
L
P
C
P
C
P
C
P
C
Points 77 [Total 18608]| Ratings 0| Comments 77| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 52 [Total 11298]| Ratings 0| Comments 52| Invitations 0|Offline
S
1
L
L
Points 50 [Total 5174]| Ratings 0| Comments 50| Invitations 0|Online
S
Points 34 [Total 704]| Ratings 0| Comments 34| Invitations 0|Offline
S
P
C
L
P
L
1
Points 24 [Total 6081]| Ratings 1| Comments 14| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.