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.
19,256,134 questions answered
Popular Conversations
Simplify 3a · 3b ÷ 3c ÷ 3d.
Weegy: Please restate your question. User: Simplify. n 6 · n 5 ÷ n 4 · n 3 ÷ n 2 · n User: Find the quotient. 4 r ...
1/30/2015 7:49:30 AM| 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 ...
1/30/2015 7:43:35 AM| 2 Answers
5x + 2y = 5 3x - y = 14 Which of the following equations is not a ...
Weegy: The best answer is B.11y = -55 User: Write the standard form of the line that passes through the given ...
1/30/2015 9:54:50 AM| 2 Answers
even times a number minus the number is -48. Find the number. the ...
Weegy: A.the number is -8 User: The quotient of a number and 2 is the same as the difference of the number doubled ...
1/30/2015 11:08:55 AM| 2 Answers
Simplify the following expression. (x 2)^3
Weegy: May i know what the question is? User: (x + 2)^3 Weegy: The answer is x^2
1/30/2015 2:55:16 PM| 2 Answers
Weegy Stuff
S
L
Points 2100 [Total 2121]| Ratings 0| Comments 2100| Invitations 0|Offline
S
L
P
L
P
Points 1497 [Total 6774]| Ratings 0| Comments 1497| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
P
Points 767 [Total 15778]| Ratings 1| Comments 757| Invitations 0|Offline
S
L
Points 438 [Total 1119]| Ratings 2| Comments 418| Invitations 0|Offline
S
1
L
L
Points 358 [Total 7058]| Ratings 1| Comments 348| Invitations 0|Offline
S
Points 121 [Total 136]| Ratings 1| Comments 111| Invitations 0|Offline
S
P
C
L
P
L
1
Points 92 [Total 6680]| Ratings 1| Comments 82| Invitations 0|Offline
S
L
Points 85 [Total 1646]| Ratings 0| Comments 85| Invitations 0|Offline
S
Points 63 [Total 445]| Ratings 0| Comments 63| Invitations 0|Offline
S
Points 57 [Total 58]| Ratings 0| Comments 57| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.