Question: For each of the following transactions determine if there is

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.

Sale on SolutionInn
  • CreatedSeptember 01, 2014
  • Files Included
Post your question