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Klio2033 [76]
3 years ago
11

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

ctions would have upon cash and net income. The first transaction has been completed as an example. (If an amount reduces the account balance then enter with negative sign preceding the number e.g. -15,000 or parentheses e.g. (15,000).
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 reduces the account balance then enter with negative sign preceding the number e.g 15,000 or parentheses e.g. (15,000). Cash $-133 Net Income $0
(a) Purchased $133 of supplies for cash.
(b) Recorded an adjusting entry to record use of $31 of the above supplies.
(c) Made sales of $1,297, all on account.
(d) Received $865 from customers in payment of their accounts.
(e) Purchased equipment for cash, $2,528 ()
Recorded depreciation of building for period used, $610. 0 1297 1164 865 299 2528 2229 610 2839

Business
1 answer:
KengaRu [80]3 years ago
4 0

Answer:

Kindly see attached organized table for clarity.

                                                                 Item cash      Net income

a  Purchase of Supplies of cash                 -$133                   -

b  Adjusting entry for use of supplies            -                     -$31

c  Made sales on account                               -                   $1,297

d Received cash from customer on acct   $865                  -

e  Purchased equipment for cash             -$2,528                -

f   Depreciation of building to be recorded     -                  -$610

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You are a jeweler who wants to make sure you have the maximum number of diamonds for sale. You notice that the number of diamond
Gwar [14]

Answer:

sensitivity

Explanation:

A financial sensitivity analysis consists of analyzing the variables that influence decisions related to a business. That is, the dependent and independent variables are analyzed and how they will affect the economic results of a company.

This analysis is effective so that companies can make projections about how one variable is directly influenced by another according to the data found, assisting in the financial and economic decision-making process that will contribute to the profitability and positioning of the business.

7 0
3 years ago
Asteroid Industries accumulated the following cost information for the year:
chubhunter [2.5K]

Answer:

Factory overhead= $22,900

Explanation:

Giving the following information:

Direct materials $15,200

Indirect materials 3,200

Indirect labor 7,700

Factory depreciation 12,000

Direct labor 36,200

<u>Factory overhead is all the indirect costs related to production. In this case:</u>

Factory overhead= indirect materials + indirect labor + factory depreciation

Factory overhead= 3,200 + 7,700 + 12,000

Factory overhead= $22,900

5 0
3 years ago
gHenderson Ski Co. prepared a master budget that included $21,360 for direct materials, $33,600 for direct labor, $18,000 for va
Oksana_A [137]

Answer:

Total cost= $170,472

Explanation:

Giving the following information:

Direct material= $21,360

Direct labor= $33,600

Variable overhead= $18,000

FIxed overhead= $46,440

Henderson planned to sell 2,000 units during the period, but sold 3,400 units.

First, we need to calculate the unitary variable cost:

Unitary variable cost= total variable cost/number of units

Unitary variable cost= (72,960/2,000)= $36.48

Now, we can calculate the total cost for 3,400 units

Total cost= total fixed cost  + total variable cost

Total cost= 46,440 + (36.48*3,400)= $170,472

8 0
3 years ago
International Data Systems' information on revenue and costs is relevant only up to a sales volume of 106,000 units. After 106,0
cupoosta [38]

Answer:

Option A. $792,000

Option B. $211,800

Explanation:

At the level 106,000 Units, the price per unit and variable cost per unit will remain at $16 and $8 per unit.

<u>Option A.</u>

Sales (106,000 Units * $16)               $1,696,000

Variable cost (106,000* $8)               $848,000

Fixed costs                                        <u>    $56000    </u>

Operating Profit                                  $792,000

<u>Option B.</u>

When the production exceeds 106,000 units level, the price per unit and variable cost per unit will remain at $9.8 and $8.5 per unit.

Sales (206,000 * $9.8)                      $2,018,800

Variable cost (206,000 * $8.5)          $1,751,000

Fixed costs                                         <u>   $56,000  </u>

Operating Profit                                    $211,800

The profit has been decreased substantially due to increase in Marginal cost.

7 0
3 years ago
Pietro estimated that a pair of Style King jeans would be worth 50 for its brand and durability. However, at the Style King stor
sergejj [24]

Answer:

Consumer Surplus

Explanation:

Consumer Surplus occurs when a expensive item is available at a discounted price in the market. The difference in price charged by the market and the discounted price of the similar product is customer surplus. In this question, the consumer surplus is:

Customer Surplus = $50 average price in the market - $40 Discounted Price

Customer Surplus =  $10

8 0
3 years ago
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