. Changes in net income. For each of the following transactions, determine if there is an increase,...

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. Changes in net income. For each of the following transactions, determine if there is an increase, decrease, or no change on net income for Fun Movie Productions Inc. (LO 4)

a. Fun Movie earned \(\$ 10,000\) in monthly sales.

b. The firm recorded a decrease in inventory of \(\$ 6,000\) due to the monthly sales.

c. The company paid current month's rent of \(\$ 1,500\).

d. The company paid employees \(\$ 2,500\) for work done in the current month.

e. The company purchased land for \(\$ 7,500\).

f. Fun Movie invested \(\$ 4,000\) in another company's stock.

g. The firm paid \(\$ 1,000\) in cash dividends.

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Financial Accounting

ISBN: 9780131492011

1st Edition

Authors: Jane L. Reimers

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