Answer:
$125,000
Explanation:
Opening values of;
Total assets = $120,000
Total liabilities = $40,000
Total equity = $120,000 - $40,000 = $80,000
During the year,
Total revenues = $140,000
Total expenses = $50,000
Withdrawal by owner = $45,000
The amount withdrawn by the owner reduces the owners equity. This may be deducted from the net income.
Net income from the year = $140,000 - $50,000 - $45,000
= $45,000
This will be added to the opening owner's equity to get the closing owner's equity.
Owner's equity at the end of the year = $80,000 + $45,000
= $125,000
Answer:
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Explanation:
If Evelyn Chang is self-employed and that she was able to do
various types of accounting in different organizations and she is a certified
accountant, she is probably or considered to be a certified public accountant
in which this type of accountant may be able to do various types of services in
accounting and can be done in different organizations in which Evelyn Chang is
capable of doing.
Answer:
Option "A" is the correct answer to the following statement.
Explanation:
Business Entity Assumption state that businessman and business are a different entity.
Under the Business Entity Assumption, Personal assets and Company assets are always different, Personal assets will never show in the Company's balance sheet.
In the case of Michel McNamee his bank account and personal home in not recorded in the company's book.
Configure Feed Tracking for Case Comments is a configuration can a system administrator implement to address this concern.
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Case Comments are your opinion on how a particular court ruled a particular case. Case law explains, reflects, criticizes, and conveys your thoughts on the court's decision to the reader.
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