Homework Answers
Answer:
|
Net income |
Cash Flow from Operating activity |
|
|
(B) |
Decrease |
No Effect |
Explanation to the above answer
Company has $4500 as outstanding salary and company passed the entry for outstanding salary and wages then the entry will be as under
|
Description |
Debit |
Credit |
|
Salary |
4500 |
|
|
Outstanding salary |
4500 |
By debiting salary account by 4500 , the net income will be decreases because salary account is expanses Account
On the other had outstanding salary account is credited so there will be no effect on the cash because cash is not yet paid by the company so no effect on Cash Flow from Operating activity.
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