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
nignag [31]
3 years ago
12

Hannah Roberts owns and operates Hannah's Pool Service Company. On January 1, Hannah Roberts, Capital had a balance of $309,170.

During the year, Hannah invested an additional $22,040 and withdrew $39,010. For the year ended December 31, Hannah's Pool Service Company reported a net income of $55,080.
Prepare a statement of owner's equity for the year ended December 31. Hannah's Pool Service Company Statement of Owner's Equity For the Year Ended December 31.
Business
1 answer:
Delicious77 [7]3 years ago
8 0

Answer:

                  Hannah's Pool Service Company

Statement of owner equity for the year ended December 31

               Particulars                                Amount

Capital (January 1)                                              $309,170

Investment during the year       $22,040

Net Income                                 $55,080

Withdrawals during the year     (-<u>$39,010</u>)

Increase in the owner equity                              <u>$38,110</u>

Capital (December 31)                                       <u>$347.280</u>

<u>Workings</u>

a. Increase in the owner equity = Investment during the year + Net income - withdrawal during the year

=$22040+$55080 -$39010

=$38110

b. Capital (December 31) = Capital on January 1 + Increase in owner equity

=$309170 +$38110

=$347280

You might be interested in
If the potential gross rental income from a property is $20,000, the vacancy rate is 5 percent, and the additional income from t
Serggg [28]

Answer: The correct answer is 19,700

6 0
2 years ago
There is a _______ relationship between real GDP and tax revenues, which partially explains deficit spending during a recession.
chubhunter [2.5K]

Answer: positive

Explanation:

The real gross domestic product refers to the value of the output in an economy which has been adjusted for price changes.

There's a positive relationship between the real GDP and tax revenues. This can be used to explain deficit spending during a recession. When there's recession, there'll be a reduction in the output and consumption in the economy. At this point, there'll be a reduction in GDP.

3 0
3 years ago
Simpkin Corporation owns manufacturing facilities in States A, B, and C. B uses a three- factor apportionment formula under whic
ivanzaharov [21]

Answer:

Simpkin Corporation

Simpkin's apportionable income assigned to B is:________.

b. $533,333

Explanation:

a) Data and Calculations:

Apportionable operating income = $1,000,000

                   State A            State B           State C         Totals

Sales      $400,000        $800,000      $300,000   $1,500,000

Payroll       100,000           150,000          50,000        300,000

Property   200,000          200,000        200,000       600,000

State B's portion of the operating income = $1,000,000 * $800,000/$1,500

= $533,333

5 0
3 years ago
4. Which organization serves as the principal operations center for the Department of Homeland Security? A. Disaster Response Ce
Svetllana [295]

Answer:

B. National Operations Center

Explanation:

The National Operations Center serves as the principal operations center for the Department of Homeland Security which

provide decision support and enable the Secretary’s execution of obligations across the homeland security enterprise by promoting situational awareness and share information.

7 0
3 years ago
What kind of advertisements would a company be unable to measure with standardized
Artist 52 [7]
Goodwill would be unable to measure the standardize tests.
6 0
3 years ago
Other questions:
  • Which of the following is a journal entry to recognize the disposal​ value? A. Manufacturing Overhead Control XXX Workminusinmin
    9·1 answer
  • With recent reports of identity theft, mr. Jones, the ceo of a construction company, is concerned about his employees' privacy,
    5·1 answer
  • Summarize the internal control principle of establishing responsibility by completing the following sentence. Proper internal co
    15·1 answer
  • A firm evaluates all of its projects by applying the IRR rule. The current proposed project has cash flows of -$27,048, $16,850,
    9·2 answers
  • The risk associated with the unlikelihood that one of the key members will be struck by lightning would most likely be handled b
    12·1 answer
  • Let's not do business with AVC Real Estate Company; they discount their commissions" is an example of what?a) Price fixingb) Boy
    8·1 answer
  • The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance
    6·1 answer
  • Select the correct answer.
    6·2 answers
  • Johnson and Johnson targeted the adult market with its baby powder and shampoo. In _____, Johnson and Johnson increased the cons
    5·1 answer
  • When Subway uses selective stores around the country to introduce a new food item, the food item
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!