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
Verizon [17]
3 years ago
15

The balance of​ Morgan, Capital at the beginning of the year and the end of the year was $ 45,000 and $ 70,000​, respectively. T

here were no new capital contributions during the year. Owner withdrawals were $ 23,000. What was the net income or loss for the​ year?
Business
1 answer:
Anna35 [415]3 years ago
6 0

Answer:

$48,000

Explanation:

Given that,

Ending owner's equity = $70,000

Beginning owner's equity = $45,000

Owner's withdrawals = $23,000

There were no new capital contributions during the year.

Net income (loss):

= Ending owner's equity - Beginning owner's equity + Owner's withdrawals

= $ 70,000 - $ 45,000 + $ 23,000

= $48,000

Therefore, the net income for the year is $48,000.

You might be interested in
a. Only institutions, and not individuals, can participate in derivatives market transactions. b. If you purchased 100 shares of
Marina CMI [18]

Answer:

e. As they are generally defined, money market transactions involve debt securities with maturities of less than one year.

Explanation:

Statement E, As they are generally defined, money market transactions involve debt securities with maturities of less than one year is true.

Statement A is not true. It is primary market transaction.

Statement B is not true. Individuals can also participate in derivatives market transactions.

Statement C is not true. The IPO market is a subset of the primary market.

Statement D is not true. It is a direct transfer of capital.

4 0
3 years ago
Tara and her parents want to save at least $40,000 for college in 8 years. Which statement describes the most effective savings
Minchanka [31]

Tara and her parents should make deposits of $450 every month into a college savings account.


4 0
3 years ago
Read 2 more answers
Studdard Controls recently declared a quarterly dividend of $1.25 payable on Thursday, April 25, to holder of record of Friday,
elena-14-01-66 [18.8K]

Answer:

April 11th

Explanation:

the dividends will be paid to the owner of the share one day before the record.  This is defined asthe Ex-date ofthe dividends.

DISCLAMER

Assuming it refers to 2019 Apil 12th

the previous business day will be April 11th (we should liook into the calendar and avoid counting Friday and saturdays

for the year 2019 April 12th is a friday so it is okay to define it as April 11th

7 0
3 years ago
An increase in the expected rate of inflation: shifts the short-run Phillips curve down. shifts the short-run Phillips curve dow
ZanzabumX [31]

Answer:

shifts the short-run Phillips curve up

Explanation:

The Phillips curve is a graph that shows the relationship between inflation and unemployment. In the short run, there is an inverse relationship between inflation and unemployment. The Phillip curve submits that high inflation is the cost to pay for economic growth. economic growth is accompanied by low unemployment. In the long run, there is no trade-off between inflation and unemployment.

An increase in expected inflation leads to an upward shift of the Phillips curve in the short run. Unemployment would stay unchanged. While a decrease in expected inflation leads to a downward shift of the Phillips curve

Stagflation in the 1970s have disproved the Phillips curve. Stagflation is when there is high unemployment and high inflation  

7 0
3 years ago
Discuss motown production techniques as applied to motown girl groups of the 1960s, including specific artists and performance/n
Liono4ka [1.6K]

Motown records was created by Berry Gordy Jr. who is an American record executive, record producer, song writer, film producer and television producer.  The Motown record  company played a very important role in the racial integration of popular music as an African-American owned label that got crossover success. Motown was the most successful record label of soul music. Motown producers believed "resolutely" in KISS principle (keep it simple stupid) and they used Pop production techniques such as the use of  orchestral string sections, charted horn sections, and carefully arranged support vocals. Complex arrangements and melismatic vocal riffs were avoided.

8 0
3 years ago
Other questions:
  • A mobile device overheats for seemingly no reason. what is the most likely cause?
    12·1 answer
  • Becky fenton has 65/130/75 automobile insurance coverage. if two other people are awarded $110,000 each for injuries in an auto
    7·1 answer
  • Elena is the senior manager of a scientific operations team at a well-known clinical research organization. The organization del
    8·1 answer
  • According to Charles Cresson Wood, "Reporting directly to top management is not advisable for the Information Security Departmen
    6·1 answer
  • A dealer forecasts that the discount rate on a 60-day bill will be 5.10%. The current discount rate on a 90-day bill is 5.30%. W
    8·1 answer
  • You manage marketing for a small business on a tight budget, yet you need to reach as many people as possible. How can Google Ad
    7·1 answer
  • In accordance with 1926.21(b)(2), the employer is required to instruct each employee in the _______________ of unsafe conditions
    14·1 answer
  • In November 2009, Perrigo Co. (PRGO) had a share price of $39.20. They had 191.33 million shares outstanding, a market-to-book r
    8·1 answer
  • If the number of firms in a monopolistically competitive industry increases and the degree of product differentiation diminishes
    10·1 answer
  • You just bought a motorcycle for $8,000. You plan to ride the motorcycle for two years, and then sell it for $3,200. During this
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!