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svetlana [45]
1 year ago
8

iven that jacob's chocolates had owner investments of $4,000; net income during the period of $10,000; and owner withdrawals of

$300 calculate the ending balance in the owner's capital account.
Business
1 answer:
Anuta_ua [19.1K]1 year ago
6 0

Iven that Jacob's chocolates had an owner the ending balance in the owner's capital account is $13,700.

<h3>What is the owner's capital account?</h3>

The equity account that appears on a company's balance sheet is called an owner's capital account. It indicates the total ownership stakes that investors hold in a company. This account holds the owners' investment in the company as well as the net income it generates, which is then decreased by any draws made to the owners.

Given,

Investment =$4,000

Net Income =$10,000

Capital withdrawal =$300

Required to find ending capital account balance =?

Ending capital account balance = $4,000 + $10,000 - $300

Ending capital account balance = $13,700

The ending balance of the owner's capital account equals the beginning balance less any withdrawals, plus contributions, plus or minus any net gain or loss for the time. The balance at the conclusion of the accounting period is determined using this formula, which is updated annually.

Thus, the ending capital account balance is 13,700.

Learn more about Capital Account here:

brainly.com/question/14684892

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Papessa [141]

Answer:

$3,190

Explanation:

Incremental net income before tax = Incremental gross profit - Incremental SG&A expenses

= $5,000 - $400

= $4,600

Incremental net income after taxes = Incremental net income before tax * (1 - Tax rate)

Incremental net income after taxes = $4,600 * (1 - 0.35)

Incremental net income before tax = $4,600 * 0.65

Incremental net income before tax = $2990

Incremental cash flow = Incremental income after taxes + Depreciation

Incremental cash flow = $2,990 + $200

Incremental cash flow = $3,190

3 0
3 years ago
The WBS is best suited for design and construction projects that have tangible outcomes. When the final outcome of the project i
UNO [17]

Answer:

Process Breakdown Structure (PBS)

Explanation:

Since in the question it is mentioned that WBS should be best suited for design & construction projects so there is tangible results

now if the final result should be lower tangible so here the project manager should select the project breakdown structure as the process of the project should be driven via requirement of the performance but not with the plans or the blueprints

7 0
3 years ago
Speculator paid $25,000 net each for two 150 front-foot lots. Speculator split them into 3 lots with equal front footage. Specul
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Answer:

The answer is 80%

Explanation:

Profit = revenue - cost of sales

         =[(50* 300) per 50 front-foot lot * 3 lots ] - 25000   *100

         =(45000-25000)/25000    *100

         <u>=80%</u>

5 0
3 years ago
A _____ is the highest postsecondary degree available.
Nadusha1986 [10]
I pretty sure it’s B
5 0
2 years ago
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The custodian of a $450 petty cash fund discovers that the fund has $65 in coins and currency plus $382 in receipts at the end o
Mandarinka [93]

The entry to replenish the petty cash fund will include a credit to cash for $385.

What is petty cash fund?

When regular purchasing techniques are impractical, such as when buying office supplies or paying employees, a tiny sum of money called petty cash is utilized instead.

The entry to replenish the petty cash fund amount will include:

Fund amount : $450 - Used

Fund amount  :$450 - $382 = 68

cash on hand - remaining ; $68 - $65 = $3

Used + remaining ; $382 + $65 = 385

As a result, a credit to cash for $385.

Learn more about on petty cash fund, here:

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8 0
1 year ago
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