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.
19,703,776 questions answered
Popular Conversations
Given: 3x + y = 1. Solve for y.
Weegy: 3x + y = 1; solve for y; y = 1 - 3x User: Given: x + 2y = -6. Solve for y. User: Write the following ...
2/27/2015 1:03:09 PM| 4 Answers
What is the reciprocal of 3/8? User: what is the reciprocal of 4/15 ...
Weegy: The reciprocal of 4 is 1/4. User: what is the reciprocal 4 2/3 Weegy: The reciprocal of 4 is 1/4. ...
2/27/2015 12:39:39 PM| 3 Answers
Find the product. (3p^4)^3 · (p^2)^7
Weegy: The product of (3p^4)^3 * (p^2)^7 is =27p^26 Solution: = 3^3 (p^4)^3 * (p^2)^7 = 27 p^12 * p^14 =27p^26 ...
2/27/2015 1:38:21 PM| 3 Answers
If a triangle is a right triangle, then the other two angles must be ...
Weegy: If a triangle is a right triangle, then the other two angles must be acute. This is TRUE. User: The sum of ...
2/27/2015 7:37:48 AM| 2 Answers
Tides on Earth are caused primarily by
2/27/2015 10:06:40 AM| 2 Answers
The Wife of Bath can best be described ...
2/27/2015 10:22:33 AM| 2 Answers
Weegy Stuff
S
L
P
L
P
P
Points 1111 [Total 7886]| Ratings 0| Comments 1111| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
P
P
Points 1099 [Total 16881]| Ratings 0| Comments 1099| Invitations 0|Offline
S
P
C
L
P
L
1
Points 626 [Total 7306]| Ratings 4| Comments 586| Invitations 0|Offline
S
Points 572 [Total 911]| Ratings 5| Comments 522| Invitations 0|Offline
S
1
L
L
Points 435 [Total 7501]| Ratings 1| Comments 425| Invitations 0|Offline
S
Points 223 [Total 368]| Ratings 1| Comments 213| Invitations 0|Offline
S
Points 149 [Total 169]| Ratings 0| Comments 149| Invitations 0|Offline
S
Points 91 [Total 91]| Ratings 0| Comments 91| Invitations 0|Offline
S
Points 47 [Total 47]| Ratings 0| Comments 37| Invitations 1|Offline
S
1
L
1
Points 31 [Total 3441]| Ratings 3| Comments 1| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.