1.) What is an insurance claim?

Blair Scott started a sole proprietorship by depositing $75,000 cash in a business checking account. During the accounting perio

Doss [256]

Answer: $81000

Explanation:

The capital account, in international macroeconomics, is a component of the balance of payments which records all transactions made between entities/parties in one country with entities in the rest of the world. These transactions consist of imports and exports of various goods, services, capital, and as transfer payments such as foreign aid and remittances. The balance of payments is composed of a capital account and a current account. Although, a narrower definition breaks down the capital account into a financial account and a capital account.

The capital account in accounting shows the net worth of a business at a certain point in time. It is also known as owner's equity for a sole proprietorship or shareholders' equity for a corporation, and it is reported in the bottom section of the balance sheet.

The capital account balance would be equal to the sum of cash deposit and net income minus drawings made.

Capital account balance= Cash deposit + Net income - Drawings made.

Capital balance= 75000+18000-12000

=93000-12000

=$81000

Therefore,the capital account is $81000.

3 0

3 years ago

Read 2 more answers

Edmund must pay $6 each for punk rock video cassettes, ????. Edmund is paid $24 per sack for accepting garbage, ????, and his re

Viefleur [7K]

Answer: Edmond's budget line equation is 6V - 24G = 48

Explanation: A Budget Line is also called as Budget Constraint. It shows all the combinations of two commodities that a consumer can afford at given market prices and within the particular income level.

Let Punk video cassette = V

Garbage = G

Therefore, Edmond's budget line equation will be a combination of the punk video cassette less the garbage he is paid for equal to his allowances

6V - 24G = 48

5 0

4 years ago

At the beginning of 2020, Earth Co purchased a machine at a cost of $40,000. Earth Co expects the machine to remain useful for e

emmasim [6.3K]

Answer:

Option B Depreciation Expense $8,400, net book value $31,600

Explanation:

The depreciation can be calculated using the following formula:

Depreciation For Y1 = (Cost - Residual Value)* Hours consumed / T. Hours

Here

Cost is $40,000

Residual Value is $5,000

Hours consumed are 1,200 hours

Total Hours are 5,000 hours

Now by putting values, we have:

Depreciation For Y1 = ($40,000 - $5,000) * 1200 / 5000

Depreciation For Y1 = $8,400

Now Net Book Value can be calculated using the following formula:

Net Book Value = Cost - Accumulated Depreciation

Net Book Value = $40,000 - $8400 = $31,600

Hence the right answer is option B.

8 0

3 years ago

In what kind of estate does ownership revert to the grantor of the estate if usage fails to conform to a stated condition in the

Nimfa-mama [501]

Answer:

The correct answer is a Fee simple defeasible estate.

Explanation:

A fee simple defeasible estate is a type of property that has some conditions attached to it. In case the conditions are not conformed the estate goes back to the grantor.

The holder of such an estate holds it as a fee simple subject to that condition. If the given condition is not met the estate either goes to the original grantor or to a third party.

8 0

4 years ago

In 2018, X Company sold 6,800 units of its only product for $36.10 each. Unit costs were as follows: Variable manufacturing $14.

Eddi Din [679]

Answer The correct answer is 8.317 units

Explanation:

Firstly, calculate the Total fixed costs= ($2.35+$2.63)*6800= $33.864 Fixed Manufacturing and Selling cost

Secondly, calculate the earnings before taxes 63.000/(1-tax rate) = 63.000(/1-0.39)= 103.278.69

Then, Calculate the Revenue less fixed cost 103.278.69+33.864=137.142,68

Then calculate the Variable margin that is equal to ( Price of sales per unit – Variable manufacturing – Variable selling) = (36.10-14.50-5.11)= 16.49

Finally divide the revenue less fixed cost on the variable margin (137.142,68/16.49) = 8316.72

Units Price Total

Revenue 8,316.72 36.10 300,233.54

Fixed Manufacturing (15,980.00)

Variable manufacturing 8,316.72 14.50 (120,592.42)

Fixed Selling (17,884.00)

Variable Selling 8,316.72 5.11 (42,498.43)

Net Revenue 103,278.69

Tax rate 39% (40,278.69)

Total 63,000.00

7 0

4 years ago