Answer: The balance in the Income Summary account prior to closing net income or loss to the Martinville, Capital account is $5,000(credit).
Explanation:
Given that,
Company earned revenues = $ 10,000
Incurred expenses = $ 5,000
Withdraw amount for personal use = $ 3,000
Balance in the Income Summary account:
= Earned revenue - Incurred expenses
= $ 10,000 - $ 5,000
= $5,000(credit)
∴ The balance in the Income Summary account prior to closing net income or loss to the Martinville, Capital account is $5,000(credit).
Answer:
B
Explanation:
Working Capital Management has a significant role to carry out in the achievement of any business undertaking. working capital Management helps in ensuring that funds are put into profitable uses. working capital management is a source of finance used in investing in new projects or existing project.
Answer:
Apollo's return on equity is 38.17%
Explanation:
The formula to compute the return on equity is shown below:
Return on equity = Net income ÷ total equity
where,
Net income = $50,000
And, the total equity is
= Common stock + retained earnings
= $10,000 + $121,000
= $131,000
Now put these values to the above formula
So, the value would equal to
= $50,000 ÷ $131,000
= 38.17%
Answer:
option A is correct
Amount that not covered is $162000
Explanation:
given data
insures deposits = $250,000
individual account = $200,000
joint account = $424,000
to find out
How much of Suzanne's money is not covered by FDIC insurance
solution
we know that
here eligible coverage amount is = $200000 + 1/2 × 424000
so eligible coverage amount is = $412,000
and we know that
Amount covered = $250000
so that
here Amount that not covered is = $412000 - $250000
Amount that not covered is $162000
so option A is correct
Answer: Interest on a Note Payable is most appropriately accrued: "B. as of the end of each accounting period during which the note is a liability.".
Explanation: As long as the Note Payable remains a liability and has not yet reached its due date, according to the accrual principle, at the end of each accounting period the accrued interest must be recognized, and when the Note payable reaches its expiration it must remain with balance 0 the interest not accrued account.