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lianna [129]
3 years ago
14

(a) Purchased $110 of supplies for cash. –$110 $0 (b) Recorded an adjusting entry to record use of $20 of the above supplies. en

ter a dollar amount enter a dollar amount (c) Made sales of $1,500, all on account. enter a dollar amount enter a dollar amount (d) Received $850 from customers in payment of their accounts. enter a dollar amount enter a dollar amount (e) Purchased equipment for cash, $2,550. enter a dollar amount enter a dollar amount (f) Recorded depreciation of building for period used, $740.
Business
1 answer:
miss Akunina [59]3 years ago
6 0

Question Completion:

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.

Answer:

Effects of transactions on cash and net income:

(a) Purchased $110 of supplies for cash.

Cash–$110 Net income $0

(b) Recorded an adjusting entry to record use of $20 of the above supplies.

Cash - $0 Net Income -$20

(c) Made sales of $1,500, all on account.

Cash -$0 Net Income +$1,500

(d) Received $850 from customers in payment of their accounts.

Cash +$850 Net Income $0

(e) Purchased equipment for cash, $2,550.

Cash -$2,550 Net Income $0

(f) Recorded depreciation of building for period used, $740.

Cash $0 Net Income -$740

Explanation:

As stated earlier, business transactions that affect earnings do not necessarily affect cash.  This fact is demonstrated in the above examples.  Unless the transaction is for cash and affects a revenue or expense account, it will not affect cash and earnings at the same time.  An example of a transaction that affects both is the sale of goods for cash.  This will increase the cash balance as well as boasting the earnings.  Another example is the cash payment for rent expense.  This will reduce the cash balance as well as reduce the earnings.

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Answer:

Explanation:

The firm Should decrease the output.

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During the recent​ recession, several European countries proposed austerity measures that would help shrink the size of the nati
antiseptic1488 [7]

Answer: Option A

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When new entrants into a competitive market have higher costs than existing firms, A. sunk costs become an important determinant
marshall27 [118]

Answer:

C.

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5 0
2 years ago
A produce distributor uses 774 packing crates a month, which it purchases at a cost of $12 each. The manager has assigned an ann
ki77a [65]

Answer:

$444.42

Explanation:

For computing the saving amount, first need to calculate the economic order quantity, total cost etc

The economic order quantity is

= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}

where,

Annual demand is

= 774 packaging crates × 12 months

= 9,932 crates

And, the carrying cost is

= $12 × 34%

= $4.08

= \sqrt{\frac{2\times \text{9,288}\times \text{\$29}}{\text{\$4.08}}}

= 363.37 crates

Now the total cost is

= Annual ordering cost + Annual carrying cost

= Annual demand ÷ Economic order quantity × ordering cost per order + Economic order quantity ÷ 2 × carrying cost per unit

= 9,288 ÷ 363 × $29 + 363 ÷ 2 × $4.08

= $742.02 + $740.52

= $1,482.54

Now the total cost in case of 774 packing crates is

= Annual ordering cost + Annual carrying cost

= Annual demand ÷ Economic order quantity × ordering cost per order + Economic order quantity ÷ 2 × carrying cost per unit

= 9,288 ÷ 774 × $29 + 774 ÷ 2 × $4.08

= $348 + $1,578.96

= $1,926.96

So, the annual saving cost is

= $1,926.96 - $1,482.54

= $444.42

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3 years ago
What is it called when the government uses some tool other than money to allocate goods?
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A
Its rationing easily
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3 years ago
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