ACC150 Unit 2 Discussion

Question # 00836994 Posted By: wildcraft Updated on: 01/11/2023 01:01 AM Due on: 01/11/2023
Subject Accounting Topic Accounting Tutorials:
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Unit 2 Discussion (ACC150 - Accounting Essentials)

Anne Marie, the owner of Anne’s Beauty Salon continues to ask you questions about her financial statements:

  1. What does net income mean on the income statement? 
  2. The income statement says that I made $15,000 net income, but I only have 949.50 cash.  I don't understand why I have so much net income and so little cash.
  3. I did several haircuts during the last week of the year and sent bills to all the customers?  When is that counted?
  4. In December I was paid $200 in advance for some hair coloring I will do in January next year.  My accountant tells me that’s a liability. That does not make sense.


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  1. Tutorial # 00832446 Posted By: wildcraft Posted on: 01/11/2023 01:02 AM
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