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kodGreya [7K]
2 years ago
13

Al’s Automotive started the year with total assets of $250,000 and total liabilities of $180,000. During the year the business r

ecorded $375,000 in revenues, $200,000 in expenses, and dividends of $35,000. Stockholders' equity at the end of the year wasA :$210,000B :$455,000C :$270,000D :$520,000
Business
1 answer:
ludmilkaskok [199]2 years ago
7 0

Answer:

Option A $210,000

Explanation:

As we know that:

Closing Equity = Opening balance + (Revenues - Expenses - Dividends)

To find closing equity we have to find opening equity and the opening balance is the difference of opening assets and opening liabilities so:

Opening Total Equity = Opening Total Assets - Opening Total Liabilities

Putting values we have:

Opening Equity = $250,000 Op. Assets + $180,000 Op. Liabilities

= $70,000 Opening Equity

So putting the value of opening equity we have:

Closing Equity = $70,000 Opening Equity + ($375,000 Revenue - $200,000 Expenses - $35,000 Dividends)

= $70,000 + 140,000 Retained Earnings = $210,000 Closing Equity

So the option A is correct.

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Pamper Me Salon Inc.’s general ledger at April 30, 2017, included the following: Cash $5,000, Supplies $500, Equipment $24,000,
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D.  

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PM Salonine.

Trial Balance

As on May 31, 2017

Account Titles Debit ($) Credit ($)

Cash 5100

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1 year ago
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Explanation:

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2 years ago
Historically, the ________ risk an investor is willing to accept, the ________ the potential return for the investment.
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Answer:

The correct option is (A)  more, greater

Explanation:

According to the risk return trade off, the risk is increased with the return that means if the returns are increased the risk is also increased and vice versa

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3 years ago
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1. 80,000

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2. As we can see from the table provided The equilibrium price is $40 per barrel as in this cost there is an intersection of quantity demanded and quantity supplied. In other words the equilibrium price and quantity could be find out when the quantity demanded equal to quantity supplied

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