Question

For each of the following transactions, determine if there is an increase, decrease, or no change on net income for Fun Movie Productions, Inc.
1. Fun Movie earned $10,000 in monthly sales.
2. The firm recorded a decrease in inventory of $6,000 due to the monthly sales.
3. The company paid current month’s rent of $1,500.
4. The company paid employees $2,500 for work done in the current month.
5. The company purchased land for $7,500.
6. Fun Movie invested $4,000 in another company’s stock.
7. The firm paid $1,000 in cash dividends.



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  • CreatedSeptember 01, 2014
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