In comparing group and individual insurance, group insurance provides:

Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transa

harkovskaia [24]

Answer:

See explanation section

Explanation:

Cash Net Income

a) Purchased $100 of supplies for cash -$100 No Effect

Note: Purchasing supplies will reduce cash that is an asset and on the other hand, supplies is also an asset which will increase due to purchase. Therefore, no effect on net income.

b) Recorded an adjusting entry to record No Effect -$20

use of $40 of the above supplies.

Note: Using of supplies means supplies will reduce. That means asset will reduce. On the other hand, an expense, that is, supplies expense will increase that leads to the decrease on net income.

c) Made sales of $1,300, all on account. No Effect $1,300

Note: Sales on accounts will affect the net income directly but as the company does not receive cash, there is no effect on cash.

d) Received $800 from customers in $800 No Effect

payment of their accounts

Note: Receive cash will affect the cash, $800. As accounts receivable decreases, there is no effect on net income.

e) Purchased equipment for cash, $2,500 -$2,500 No Effect

Note: Purchasing equipment will reduce cash that is an asset and on the other hand, equipment is also an asset which will increase due to purchase. Therefore, no effect on net income.

f) Recorded depreciation of building for No Effect -$600

period used, $600

Note: Depreciation of building is an expense, therefore, net income will decrease. As depreciation expense is a non-cash account, no effect on cash.

4 0

3 years ago

The effect of the internet has been to increase a company's bargaining power vis-à-vis its suppliers

Mariana [72]

The answer is a.

It is true that the effect of the Internet has been to increase a company's bargaining power vis-à-vis its suppliers. Internet services increase the bargaining power a company by helping to find better offers in an easier way and gather the required information to develop much better strategies.

4 0

3 years ago

Read 2 more answers

Density Farms Inc. had sales of $750,000, cost of goods sold of $200,000, selling and administrative expense of $70,000, and ope

shusha [124]

Based on the costs described and the operating profit, the depreciation expense was $330,000

<h3>Depreciation expense</h3>

Is an expense owning to fixed assets losing value.
Is deducted from the Sales revenue.

You can find the depreciation expense as:

Operating income = Sales - Cost of goods sold - Admin expenses - Depreciation

150,000 = 750,000 - 200,000 - 70,000 - Depreciation

Depreciation = 750,000 - 200,000 - 70,000 - 150,000

= $330,000

In conclusion, depreciation was $330,000.

Find out more about depreciation at brainly.com/question/23057744.

5 0

2 years ago

At BCD car wash, when a customer arrives, he or she first checks in with a receptionist and then leaves the car to one of severa

Dimas [21]

Answer:

10 minutes

Explanation:

Data provided in the question

Reception taking time = 3 minutes

Car wash taking time = 5 minutes

Paying the cash register taking time = 4 minutes

Returning to car and leaving taking time = 2 minutes

So, the theoretical flow time in minutes is

= Reception taking time + maximum time of car wash and paying the cash register + returning to car and leaving taking time

= 3 minutes + 5 minutes + 2 minutes

= 10 minutes

5 0

3 years ago

Aaron is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current y

Svetllana [295]

Answer:

$325,000

Explanation:

Aaron's salary which has already been substracted from the income of ABC, Inc. is allowable deduction and it will not be added back to the ABC Inc.'s income.

Dividend payment by an S corporation is not allowable for deduction and it will not be deducted from the net income.

Therefore, Aaron's qualified business income is $325,000.

7 0

3 years ago