All categories

2 years ago

The balance in the j. higgins, withdrawals account was $4,700. the entry to close the account would include a?

1 answer:

8 0

The balance in the j. Higgins, withdrawal account was $4,700. the entry to close the account would include a debit to J. Higgins, Capital, $3,200.

A direct debit is a record of the amount deducted from your bank account, such as when you write a check. The total debits must balance the total credits. Synonyms: Payment, Liability, Payment, Obligation Other synonyms for direct debit.

In accounting, a credit is an entry that records a decrease in an asset or an increase in a liability, and a decrease in expenses or an increase in income (as opposed to a debit that does the opposite). Thus, credits increase net income on the company's income statement, while debits decrease net income.

A direct debit is a payment made or debited or an indication of the amount debited. Attempting to track a mysterious $2 withdrawal from a bank account is unlikely to succeed, but it should be done anyway.

Learn more about debit here: brainly.com/question/24914390

#SPJ4

You might be interested in

The following data were reported by a corporation: Authorized shares 24,000 Issued shares 19,000 Treasury shares 5,500 The numbe

Basile [38]

Answer:

13,500

Explanation:

Outstanding shares = issued shares - Treasury shares

19,000 - 5,500 = `13,500

Shares is a method through which firms raise capital.

Authorised shares are the maximum number of shares a company can issue to investors

Outstanding shares are the total number of shares sold to investors

Treasury shares are shares that have been issued and later repurchased by the company

Issued shares are the shares that a company issues

4 0

3 years ago

job ________ involves division of an organization’s work among its employees and application of motivational theories to jobs to

jeka94

Dfhtddffgvcdfgggvvcdcvbhhjjjjjjjjrr the Eder

6 0

3 years ago

mark and shirley, married filing jointly with a modified adjusted gross income (magi) of $92,300, adopted their son, matthew in

kap26 [50]

Answer:

$14890 is the correct option because if any parent adopts a child in 2022 there is a federal adoption tax credit of up to $14,890 per child.

<h3>Claiming the Federal Adoption Tax Credit for 2022</h3>

A federal adoption tax credit of up to $14,890 per child is available for adoptions that are finalized in 2022. The adoption tax credit for 2022 is not transferable.

Parents who wish to receive the credit must:

have adopted a child who is not a stepchild - The child must be less than 18 or incapable of caring for themselves due to physical or mental impairment.

abide by the income restrictions - How much of the credit parents can claim depends on their income. Families earning less than $214,520 in modified adjusted gross income in 2022 are eligible for the full credit. People who earn between $223,410 and $263,410 can receive a partial credit; people who earn more than $263,410 cannot.

To know more about 'Adoption tax credit', visit :brainly.com/question/15410304

#SPJ4

6 0

2 years ago

UESTION 7 You hold a portfolio consisting of a $5,000 investment in each of 20 different stocks. The portfolio beta is equal to

PSYCHO15rus [73]

Answer:

New Beta = 1,17

Explanation:

Portfolio # Beta NEW Beta

$ 5.000 1 1,00 2,00

$ 5.000 2 1,12 1,12

$ 5.000 3 1,12 1,12

$ 5.000 4 1,12 1,12

$ 5.000 5 1,12 1,12

$ 5.000 6 1,12 1,12

$ 5.000 7 1,12 1,12

$ 5.000 8 1,12 1,12

$ 5.000 9 1,12 1,12

$ 5.000 10 1,12 1,12

$ 5.000 11 1,12 1,12

$ 5.000 12 1,12 1,12

$ 5.000 13 1,12 1,12

$ 5.000 14 1,12 1,12

$ 5.000 15 1,12 1,12

$ 5.000 16 1,12 1,12

$ 5.000 17 1,12 1,12

$ 5.000 18 1,12 1,12

$ 5.000 19 1,12 1,12

$ 5.000 20 1,24 1,24

$ 100.000 1,12 1,17

5 0

3 years ago

The following note transactions occurred during the year for Towell Company: Nov. 10 Towell issued a 90-day, 9% note payable for

Pani-rosa [81]

Answer: See explanation

Explanation:

The general journal entries necessary to adjust the interest accounts at December 31 will be:

1. December 31:

Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102

Credit: Interest payable = $102

(To accrue interest expenses for the note issued on November 10).

2. December 31:

Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120

Credit: Interest payable = $120

(To accrue interest expenses for the note issued on December 1)

3. December 31:

Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67

Credit: Interest payable = $36.67

(To accrue interest expenses for the note issued on December 20).

3 0

3 years ago