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2 years ago

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Supplies. The supplies account has 700 debit balance to start the year. No supplies were purchased during the current year. A De

cember 31 physical count shows $310 of supplies remaining. Using the three step process for adjusting the supplies asset account at December 31

1 answer:

algol [13]2 years ago

7 0

Answer:

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The beginning capital balance shown on a statement of owner's equity is $100,000. Net income for the period is $50,000. The owne

Lelu [443]

Answer: $125,000

Explanation: In simple words, owner's equity refers to the funds that are contributed by the owners of the capital for effectively conduction the operations of the business.

Any profit that the organisation made during a year is treated as a return to the capital and is added to the initial capital while drawing from the capital results in decrease in the available fund for operations.

Hence the year end balance of the capital in given case is, $1000,000 + $50,000 - $25,000 = $ 125,000

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3 years ago

Complete this analogy: The computer is to hardware as a productivity program is to _____.

nikitadnepr [17]

Answer:

3. Software

Explanation:

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3 years ago

Sox Corporation purchased a 30% interest in Hack Corporation for $1,825,000 on January 1, 2021. On November 1, 2021, Hack declar

Kazeer [188]

Answer:

the loss reported is $1,135,000

Explanation:

The computation of the amount of loss reported is shown below:

Investment cost $1,825,000

Less: Share of Dividends received -$690,000 ($2,300,000 × 30%)

Carrying value of investment $1,135,000

Share of net loss $1,320,000 ($4,400,000 × 30%)

It should be limited to the carrying value of an investment

Hence, the loss reported is $1,135,000

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3 years ago

Prebankruptcy counseling includes all of the following except:

Anon25 [30]

My answer would probably be B!

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3 years ago

When independent measurers get similar results when using the same accounting measurement methods, the financial information is:

Deffense [45]

Answer: verifiable

Explanation:

A financial information is verifiable when the independent measurers get similar results when using the same accounting measurement methods.

In this scenario, the independent measures use thesame method but do their work separately without them knowing the results gotten by the other person. When there's similarity in the results, it shows that the results are verifiable.

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3 years ago