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Alex_Xolod [135]
3 years ago
14

Blair Scott started a sole proprietorship by depositing $75,000 cash in a business checking account. During the accounting perio

d, the business borrowed $30,000 from a bank, earned $18,000 of net income, and Scott withdrew $12,000 cash from the business. Based on this information, what is the balance in Scott’s capital account at the end of the accounting period?
Business
2 answers:
o-na [289]3 years ago
6 0

Answer:

$81,000

Explanation:

The money with which Blair Scott started a sole proprietorship by depositing $75,000 is the CAPITAL

While the money the business borrowed is DEBT

The income earned $18,000 will increase Scott's capital (owner's equity) while the amount he withdrew from the business is called DRAWINGS and will reduce his capital

Based on this information, the balance in Scott’s capital account at the end of the accounting period will be his contribution of $75,000 + Net income of $18,000 - Drawings of $12,000 = $81,000

Doss [256]3 years ago
3 0

Answer: $81000

Explanation:

The capital account, in international macroeconomics, is a component of the balance of payments which records all transactions made between entities/parties in one country with entities in the rest of the world. These transactions consist of imports and exports of various goods, services, capital, and as transfer payments such as foreign aid and remittances. The balance of payments is composed of a capital account and a current account. Although, a narrower definition breaks down the capital account into a financial account and a capital account.

The capital account in accounting shows the net worth of a business at a certain point in time. It is also known as owner's equity for a sole proprietorship or shareholders' equity for a corporation, and it is reported in the bottom section of the balance sheet.

The capital account balance would be equal to the sum of cash deposit and net income minus drawings made.

Capital account balance= Cash deposit + Net income - Drawings made.

Capital balance= 75000+18000-12000

=93000-12000

=$81000

Therefore,the capital account is $81000.

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IRISSAK [1]

Answer:

A. Act Again

Explanation:

In business, tracking a progress is made to ensure that you make a constant improvement within your operation.

During the observation process, you'll notify the things that can either become a hindrance or improvement to your operation. During the adjustment process, you'll eliminate the hindrance and add the things that can become the improvement into the plan.

After both of these were done, you need to act to execute the plan and check the progress again. This will form a cycle that you need to do throughout the operation.

8 0
3 years ago
Rent is $1,258. Phone charges last month were $46.88. Groceries cost about $115/week. What is a good estimate of your monthly ex
Papessa [141]

I'd say $1,807.00 (C)

6 0
3 years ago
A large-scale bakery is laying out a new production process for its packaged bread, which it sells to several grocery chains. It
Nataliya [291]

Answer:

840 breads size oven.

Explanation:

According to Little's law,

Inventory = flow rate × flow time

Inventory (I) is the number of flow units that are currently handled by a business process.

I= unknown

Flow rate (R) is the number of flow units going through the business process per unit time.

R= 4200 breads per hour or 70 breads per minute (4200/60)

Flow time (T) is the amount of time a flow unit spends in a business process from beginning to end.

T= 12 minutes.

Inventory = flow rate × flow time

Inventory = 70 breads per minute × 12 minutes

Inventory = 840 breads size oven

Therefore, for the company to produce 4200 breads per minute, 840 breads size oven is required.

4 0
4 years ago
When the consumer price index falls, the typical family has to spend fewer dollars to maintain the same standard of living. True
MariettaO [177]

Answer:

True

Explanation:

Consumer price index measures the changes in price level of a basket of goods.

If consumer price index falls if means price level has fallen , goods become cheaper and the same amount of money can buy more quantities of goods and services.

Conversely if consumer price index rises, price level has increased, goods and services become more expensive and more amount of money would be needed to maintain the same level of consumption.

CPI is calculated as cost of basket of goods in a given year / cost of basket of goods in a base year

I hope my answer helps you

7 0
3 years ago
An investment should be undertaken A) if the present value of the expected income stream associated with the investment is great
Alona [7]

Answer:

A) if the present value of the expected income stream associated with the investment is greater than the full cost of the investment project.

Explanation:

It is when the present value of the expected income stream associated with the investment is greater than the full cost of the investment project that the project is profitable. Most investments are undertaken with the aim of making profits.

The net present value can be used to determine if the present value of the expected income stream associated with the investment would be greater than the full cost of the investment project.

3 0
3 years ago
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