Answer:
the bonds will recognize a gain for 3,500
Explanation:
The adjusted basis of the stock will be the value in Winkler books.
So selling at 7,500 will recognize gain for 3,500
2:3
And the total is 25,
Step 1: divide the total by 3 which is 8.333
Step 2: Multiply 8.333 by two which is 16.666
Step 3: there cant be .666 of a girl so you would round to 17 girls
Answer:
<u>income statement</u>
Service revenue
Advertising expense
<u>balance sheet</u>
Notes payable
Common stock
Cash
<u>retained earnings statement.</u>
Nill
Explanation:
The Income Statement records <em>Incomes</em> and <em>Expenses</em>. It is used to calculate the Profit earned during the reporting period.
The Balance sheet records <em>Assets</em>, <em>Liabilities</em> and <em>Owners Equity</em>. The Balance Sheet uses Accounting equation : Assets = Liabilities + Owners Equity.
The Retained Earnings records the <em>Opening and Closing Retained Earnings</em> Balances, <em>Profit for the Year</em> and <em>Dividends Paid</em>. It is used to determine the Balance at the end of the year in Profits attributable to Owners
Answer:
The Journal entries are as follows:
(a) On June 1,
Cash A/c Dr. $5,830
To common stock $5,830
(To record the issue of common stock for cash)
(b) On June 2,
Equipment A/c Dr. $1,550
To accounts payable $1,550
(To record the purchase of equipment on account)
(c) On June 3,
Rent expense A/c Dr. $560
To cash $560
(To record the rent expense)
(d) On June 12,
Accounts receivable A/c Dr. $510
To Welding service revenue $510
(To record the welding service revenue)
Answer:
$10,000
Explanation:
The computation of the increase or decrease of income from operations is shown below
Without Credit
Income from Operations is
= $100,000 - $40,000
= $60,000
And,
With Credit
Income from Operations is
= 2 × ($100,000 - $40,000) -$50,000
= $70,000
So, there is Increase in Income from Operations i.e.
= $70,000 - $60,000
= $10,000