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
slamgirl [31]
3 years ago
5

The summaries of balance sheet and income statement data follow.

Business
1 answer:
LuckyWell [14K]3 years ago
3 0

Answer:

Total owner’s equity = $23,000

Total liabilities =$50,000

Investment by owner =  $20,000

Explanation:

We use the accounting equation which is presented below:

Total assets = Total liabilities + owners equity

At the beginning of the year

The owner equity would be

= Total assets - total liabilities

= $85,000 - $62,000

= $23,000

At the end of the year

The total liabilities would be

= Total assets - total owners equity

= $110,000 - $60,000

= $50,000

The investment by owner would be

= Ending balance of owners equity + drawing - opening balance of owners equity + total expenses - total revenues

= $60,000 + $18,000 - $23,000 + $140,000 - $175,000

= $20,000

You might be interested in
A researcher conducts a survey of people who use anxiety medications, recruited through an advertisement in the local paper. the
Darya [45]
<span>The researcher has violated participant confidentiality and has made the validity of the study invalid. The people whose confidentiality was breached should be notified and they should have the right to revoke their information from the study. No one who believes they have participated with confidentiality should be subjected to having others know they were involved if they do not want that.</span><span />
3 0
2 years ago
"All three levels are required to run an organization or a business smoothy"Justify the statement.​
Reika [66]

Answer:

"All three levels are required to run an organization or a business " according to my point of view it is true without anyone levels (sector) business or organization not imagine to run

5 0
2 years ago
The net decrease in Prepaid Expenses (Prepaid) amounts to $30,000 and the net decrease in Accounts Payable (AP) is $20,000. Assu
tester [92]

Answer:

Net decrease in prepaid expenses of $30,000 will be added to the net income in adjustments to net income because it will be considered that working capital (inventory or any other expense) has been generated by the operations.

Net decrease in Accounts payable of $20,000 will be deducted from net income in adjustments to net income because decrease in accounts payable means that cash has been paid to the outstanding payables.

Net effect of the above transactions is $30,000 - $20,000 = $10,000

So, net income will be increased by $10,000 as net effect of the above adjustments.

7 0
2 years ago
The market risk, beta, of a security is equal to Group of answer choices the variance of the security's returns divided by the c
GaryK [48]

Answer:

the covariance between the security's return and the market return divided by the variance of the market's returns

Explanation:

The market risk, beta of the security would be equivalent to the

Beta = Cov(rm, rs) ÷  Var(rm)

Rm denotes  market return

rs denotes security return

Cov denotes covariance

Var denotes variance

Hence, the second option is correct

And, the rest of the options are wrong

3 0
3 years ago
Keenan wants to incorporate his business. He buys business cards and labels with the name "Keenan’s Kwips" on them and begins se
Charra [1.4K]

Answer:

The correct option is b. de jure corporation.

Explanation:

A de jure corporation is a business that has fulfilled all the requirements mandated under the law of its state incorporation statute and has had limited liability protection granted to the corporation. De jure means "a matter of law," which validates the corporation as a legal entity.

It is created when steps are taken to incorporate, but not all of the statutes are in compliance. With a de facto corporation, it is not protected if the state challenges it in a "quo warranto" proceeding. It is protected against third parties.  

Courts can decide on a finding of de facto if three requirements are met by the corporation:

• A statute must be in existence that allows legal incorporation.

• The corporation has attempted to comply with the statute, which is considered a good faith effort.

• There has been actual use or the exercise of the corporate franchise.

6 0
2 years ago
Other questions:
  • Melrose Company has an investment in bonds issued by Roscoe Industries that are classified as available-for-sale securities. The
    11·1 answer
  • XOLO Ltd. sold its stocks at a face value of $10. The stocks presently have a market value of $45. The earning per share (EPS) i
    11·1 answer
  • On-Time Truckers prepares monthly financial statements. On July 1, the Supplies account had a balance of $3,500. During July, ad
    12·1 answer
  • In mutual v. ohio, the supreme court ruled that motion pictures were _____. inherently detrimental to society a business a form
    9·1 answer
  • Suppose that General Motors Acceptance Corporation issued a bond with 10 years until​ maturity, a face value of $ 1 comma 000​,
    8·1 answer
  • Rogers has a nail that is 12 centimeter long. He measured and records the length of the nail as 15 centimeters. What is the perc
    10·1 answer
  • Evans Ltd. is now considering the possibility of offering a lifetime membership option to its subscribers. Under this proposal,
    9·1 answer
  • This year Mary received a $600 refund of state income taxes that she deducted on her tax return last year. Mary included a total
    6·1 answer
  • On January 1, 2019, Sandhill Corporation acquired machinery at a cost of $1290000. Sandhill adopted the double-declining balance
    9·1 answer
  • which of the following is an example of a project that belongs to the functional area of accounting and finance? a. market resea
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!