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frutty [35]
3 years ago
14

The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency. After closing entri

es are posted, what will be the balance in the Sue Harris, Capital account?
Total revenues $ 100,000
Total expenses 48,000
Sue Harris, Capital 64,000
Sue Harris, Withdrawals 12,000

a. $116,000.
b. $52,000.
c. $48,000.
d. $64,000.
e. $104,000.
Business
1 answer:
zvonat [6]3 years ago
8 0

Answer:

e. $104,000.

Explanation:

The computation of the ending capital balance is shown below:

As we know that

Ending capital balance = Opening capital balance + net income - withdrawn amount

where,

Opening capital balance = $64,000

Net income is

= Revenues - expenses

= $100,000 - $48,000

= $52,000

And, the withdrawn amount is $12,000

So, the ending capital balance i s

= $64,000 + $52,000 - $12,000

= $104,000

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3 years ago
Read the following prompt and type your response in the space provided.
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Answer:

See explanation below.

Explanation:

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The benefits of being physically fit include:

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4 0
3 years ago
If the ratio of currency to deposits (cr) increases, while the ratio of reserves to deposits (rr) is constant and the monetary b
blagie [28]

Answer:

C. the money supply decreases.

8 0
3 years ago
Haynes Automotive uses labor-hours as its base for calculating a predetermined overhead rate. Haynes had estimated the labor-hou
julia-pushkina [17]

Based on the information given the predetermined overhead rate is 31.89 per direct labor hour.

<h3>Predetermined overhead rate</h3>

Using this formula

Predetermined Overhead rate = Estimated manufacturing overhead / Estimated total labor hours

Let plug in the formula

Predetermined Overhead rate = [$1,026,260 + (46,000×6.25)] / 41,200

Predetermined Overhead rate =1,313,760/ 41,200

Predetermined Overhead rate = 31.89 per direct labor hour

Inconclusion the predetermined overhead rate is 31.89 per direct labor hour.

Learn more about predetermined overhead rate here:brainly.com/question/26372929

3 0
2 years ago
A company purchased land for $350, 000 cash. Real estate brokers commission was $25,000 and $35,000 was spent for demolishing an
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Under the historical cost principle the cost of land would be recorded at: <u>d. $410,000 </u>.

<u>Explanation</u>:

<em><u>Given</u></em>:

Purchase cost of land = $350,000

Brokers commission = $25,000

Cost for demolishing old building = $35,000

Principle cost of land = ?

Principle cost of land= Purchase cost of land+ Brokers commission+ Cost for demolishing old building

            = $350,000+$25,000+$35,000

            = $410,000

Principle cost of land= $410,000

The correct option is <u>d.$410,000</u>.

7 0
3 years ago
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