All categories

1 year ago

What is the total of the owner's equity if the balance sheet shows liabilities of $38,000 and assets of $74,000?

Business

1 answer:

horrorfan [7]1 year ago

4 0

Answer:

The total of the owner's equity is $36,000

<h3>Explanation:</h3>

Total Asset = Total Liability + Total Equity.

Total Equity = Total Asset less Total Liability.

Total Equity = 74000 - 38000.

Total Equity = $36,000.

To learn more about total equity, refer

to brainly.com/question/25309906

#SPJ4

You might be interested in

Nov. 5 Purchased 850 units of product at a cost of $10 per unit. Terms of the sale are 3/10, n/60; the invoice is dated November

pickupchik [31]

Answer: Please see explanation column for answer

Explanation: A perpetual inventory system maintains inventory balances ensuring that records are continually made immediately when purchases or sale are made together with any returns which are recorded in inventory accounts.

To record purchase of merchandise

Date Account Debit Credit

Nov 5 Merchandise Inventory $8500

Accounts payable $8,500

To record return of merchandise purchased

Nov 7 Accounts payable $300

Merchandise Inventory $300

To record payment of inventory

Nov 15 Accounts payable $8,200

Cash $7,954

Merchandise Inventory $246

Calculation =

Nov 5 - Cost of merchandise purchased = No of units x unit price = 850 x 10 =$8500

Nov 7 - Cost of merchandise returned = No of units returned x unt price = 30 x 10 = $300

discount received = Balance from accounts payable x discount rate = (8,500- 300) x 3%= 8200 x 0.03= $246

Cash = Accounts payable - Merchandise Inventory = $8200 - 246 =$7984.

4 0

2 years ago

The EPA requires the use of precise forms called the

Musya8 [376]

Answer:

The correct answer is The EPA requires the use of precise forms called? It is a requirement for those working with or owners of transporters and generators of waste materials deemed hazardous to acquire an EPA form 8700-22 called the uniform hazardous waste manifest.

Explanation:

i hope this helps 229 999 0523

8 0

2 years ago

Home Security Systems is analyzing the purchase of manufacturing equipment that will cost $95,000. The annual cash inflows for t

Citrus2011 [14]

Answer:

internal rate of return is 20.463%

Explanation:

given data

Year Cash Flow

1 $48,000

2 $46,000

3 $41,000

equipment cost = $95,000

to find out

Determine the internal rate of return

solution

we consider here internal rate of return is x

so we can say present value of inflows = present value of outflows

equate here

$95000 = $\frac{48000}{(x)} +\frac{46000}{(x)^2} +\frac{41000}{(x)^3}$

solve it we get

x = 20.463 %

so internal rate of return is 20.463%

5 0

2 years ago

On January 1, 2020, Waterway Company purchased 11% bonds, having a maturity value of $312,000 for $336,270.95. The bonds provide

mafiozo [28]

Answer and Explanation:

The journal entries are shown below:

1. 11% bonds payable $336,270.95

To cash $336,270.95

(Being the bond purchased for cash is recorded)

2. Cash ($312,000 × 11%) $34,320

To Interest revenue ($336,270.95 × 9%) $30,264

To 11% bond payable $4,056

(Being the interest revenue is recorded)

Fair value adjustment $1,685.05

To Unrealized gain $1,685.05

(Being the recognition of fair value is recorded)

It is computed below:

= (333,900 - ($336,270.95 - $4,056) )

3. Unrealized gain $13,000 ($333,900 - $320,900)

To fair value adjustment $13,000

(Being the recognition of fair value is recorded)

8 0

2 years ago

What is chemical fertilizer? explain with example

goldenfox [79]

Answer: chemical fertiliser refers to any number of synthetic compound substances created specifically to increase crop yield.

Some examples of chemical fertilisers are ammonium sulphate, ammonium phosphate, ammonium nitrate, urea, ammonium chloride.

7 0

1 year ago

Read 2 more answers