Acompany paid $900 to workers during may. of this amount, $600 was for work performed in april, while the other $300 was for work performed during may. what would the impact of this transaction be during may on (1) the balance of cash, (2) cash-basis net income, and (3) accrual-basis net income?

a) The balance of cash  is decrease by $900 as all amount paid to the worker

b) Cash basis net income  decrease by $900

c) Accrual basis net income decrease by $300

Explanation:

Given data:

Total amount paid to worker $900

Total amount paid to worker in month of APRIL =$600

Total amount paid to worker in month of may is $300

from above data we can calculated following

a) The balance of cash  is decrease by $900 as all amount paid to the worker

b) Cash basis net income = Net income decrease by $900

c) Accrual basis net income = Net income decrease by $300

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

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