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3 years ago

An owner withdrawal of $20,000 would_______.

Business

1 answer:

brilliants [131]3 years ago

7 0

An owner who withdraws an amount of $20000 would lead to decrease in the assets and the owner's equity by $20000.

Answer: Option D.

<u>Explanation:</u>

Assets are the things which are owned by the owner of the organisation and provide economic benefits. Liabilities are things which are the obligation on the owner of the company that he has to pay off. Equity is the share of the share holder of the company.

If an owner with draws or takes out money from the business for the personal use, it would lead to the decrease in the amount of the assets of the owner. It would also lead to the decrease in the amount of equity of the owner because he has taken out his share from the business for his personal use and not for the business.

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Record the following transactions for Lett Company. (Credit account titles are automatically indented when the amount is entered

Tanya [424]

A transaction is any monetary business event that impacts a business's financial statements.

<h3>The journal entries </h3>

The journal entries are as follows

On August 4

Account Receivable $610

To Sales Revenue $610

(Being the goods sold on credit basis is recorded)

On August 7

Sales Return and Allowances $60

To Accounts Receivable $60

(Being the sales allowance is recorded)

On August 12

Sales Discount $11

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To Accounts Receivable $550

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1 year ago

Cow’s Milk Creamery, Inc., needs a certain part for its pasteurizing equipment to continue its operations and orders one for $3,

Lostsunrise [7]

D.) I think I hope I helped

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3 years ago

Coronado Industries had 293000 shares of common stock issued and outstanding at December 31, 2020. No common stock was issued du

Gnesinka [82]

Answer:

$3.72

Explanation:

earnings per common share = earning attributable to holder of common stock ÷ weighted average number of common stocks outstanding

therefore,

earnings per common share = $3.72

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2 years ago

Villalpando Winery wants to raise $35 million from the sale of preferred stock. If the winery wants to sell one million shares

statuscvo [17]

Answer:

(a) $4.2

(b) $5.6

(d) $2.45

(e) $2.1

(f) $1.05

Explanation:

Given that,

Total amount of capital raised from the sale of preferred stock = $35 million

Number of shares = 1 million

Price per share = Total capital raised ÷ Number of shares

= $35 million ÷ 1 million

= $35 per share

(a) If a Expected rate of return = 12 percent