1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Helen [10]
3 years ago
11

The following information is provided for Sacks Company before closing entries. Cash $ 12,000 Supplies 4,500 Prepaid rent 2,000

Salaries expense 4,500 Equipment 65,000 Service revenue 30,000 Miscellaneous expenses 20,000 Dividends 3,000 Accounts payable 5,000 Common stock 68,000 Retained earnings 8,000 What is the amount of total shareholders’ equity? Multiple Choice a. $5,000. b. $78,500. c. $68,500. d. $83,500.
Business
1 answer:
RideAnS [48]3 years ago
5 0

Answer:

b. $78,500

Explanation:

Assets

Equipment                       $65,000

Cash                                 $12,000

Supplies                           $4,500

Prepaid rent                     <u>$2,000</u>

Total Assets                     <u>$83,500</u>

Equity and Liabilities

Common stock                $68,000

Retained earnings           <u>$10,500</u>

Total Equity                      $78,500

Accounts payable            <u>$5,000</u>

Total Equity and Liability <u>$83,500</u>

*<u>Working</u>

Net Profit = Service revenue - Salaries Expenses - Miscellaneous expenses

Net Profit = $30,000 - $4,500 - $20,000 = $5,500

Total retained Earning = $8,000 + $5,500 - $3,000 = $10,500

You might be interested in
The current value in today's dollars of a future sum of money is called :______
AleksandrR [38]
Ans: (a) present value
4 0
2 years ago
Sheffield Realty Corporation purchased a tract of unimproved land for $115,500. This land was improved and subdivided into build
monitta

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
4 0
3 years ago
Which accurately explains the difference between the stock market and the bond market?
Reptile [31]
<span>Bond prices have an inverse relationship with interest rates. As bond prices rise, yields will fall. Typically this is bullish for stocks as investors move to the equity marke .Equity is bought and sold in the stock market while debt is bought and sold in the bond market.The Stock Market is a subset of the Capital Market.</span>
5 0
3 years ago
Read 2 more answers
Department 1 completed and transferred out 450 units and had ending work in process inventory of 60 units. The ending inventory
Reil [10]
The answer to this is 462
8 0
2 years ago
lander has a netflix account and loves to watch independent and international films. after each film that he streams, netflix cr
marysya [2.9K]

Netflix is ​​using the digital marketing technique of using measurable, data-driven information to add customer value.

This digital marketing technique of creating a list of potential films based on Lander's film screening history helps Netflix generate value for the customer, generating benefits such as:

  • reduction in the time the client looks for a film.

  • meeting customer needs.

  • increased satisfaction.

  • greater customer loyalty.

  • creation of relationship and interaction between company and customer.

Therefore, artificial intelligence uses data to create value for the consumer, making the experience more targeted and aligned with consumer tastes and preferences, which makes the company better positioned and competitive in the market.

Learn more here:

brainly.com/question/8367090

5 0
2 years ago
Read 2 more answers
Other questions:
  • During the first quarter of the Super Bowl, Chris keeps track of actual game time vs. time devoted to commercials. Game time amo
    12·1 answer
  • Dividends cause a(n) __________ in equity and are recorded directly in the _______ account.
    15·1 answer
  • You are the decision maker for purchasing office equipment in your organization. One sales representative privately offers you s
    10·1 answer
  • Proctor and Gamble is a large multinational organization that has many business sharing distribution resources. Diversification
    15·1 answer
  • Which statement provides the best description of the term lifelong learning?
    5·1 answer
  • Compare a stock insurer to a mutual insurer with respect to each of the following: a. Parties who legally own the company b. Rig
    9·1 answer
  • Each of the following is correct regarding treasury stock except that it has been
    5·1 answer
  • A food manufacturer reports the following for two of its divisions for a recent year.
    10·1 answer
  • Thomas Company has decided to purchase a company vehicle. The accountant was given all of purchase details. Which should be used
    10·1 answer
  • Bill is considering investing $450 at the end of every month in a fixed income instrument. He will receive $27,000 at the end of
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!