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
jasenka [17]
3 years ago
12

Tara westmont, the proprietor of tiptoe shoes, had annual revenues of $205,000, expenses of $113,700, and withdrew $26,000 from

the business during the current year. the owner's capital account before closing had a balance of $317,000. the ending owner's capital balance after closing is:
Business
2 answers:
nikitadnepr [17]3 years ago
7 0

Answer:

$382,300

Explanation:

Given:

Annual revenue = $205,000

Annual expenses = $113,700

Withdrew amount = $26,000

Owner capital = $317,000

Computation of net profit :

Net profit = Annual revenue - Annual expenses

Net profit = $205,000 - $113,700

Net profit = $91,300

Computation of owner's capital balance after closing:

Owner's capital balance after closing = Owner capital + Net profit - Withdrew amount

Owner's capital balance after closing = $317,000 + $91,300 - $26,000

Owner's capital balance after closing = $382,300

Whitepunk [10]3 years ago
4 0

The ending owner’s capital balance after closing is $382,300.

The company had a net profit for the year of $91,300. This is calculated by subtracting expenses from net income. $205,000-$113,700 = $91,300.

In order to calculate the the ending owner’s capital for the year the accountant will add the net income to the starting owner’s equity, and then subtract the amount that the owner withdrew from the business.

Starting owner’s equity ($317,000 ) + net income ($91,300) = $408,300 and then subtract the amount withdrawn ($26,000) = $382,300, which is the ending owner’s equity balance.

You might be interested in
Correctly complete the following statement. We may be more likely to consider using qualitative forecasting techniques when Sele
Nostrana [21]

Answer:

b

Explanation:

There are two types of forecasting method

1. Qualitative forecasting

2. Quantitative forecasting

Qualitative forecasting can be described as when subjective judgement or non quantifiable information in forecasting.

<em>When is qualitative forecasting suitable ?</em>

  1. It is used when historical data in unavailable.
  2. this method is suitable when it is predicted that future result would depart from what historical data may suggest

<em>Advantages of Qualitative forecasting </em>

  1. it is flexible
  2. It can be used when data available is ambiguous or unclear

<em>Disadvantage of Qualitative forecasting </em>

It is subjective.

Quantitative forecasting can be described as forecasting using historical data

3 0
3 years ago
To develop a portfolio that provides the best return possible with a minimum risk, the linear programming model will have an obj
madam [21]

Answer: a.)maximizes the minimum return.

Explanation:

5 0
3 years ago
Assume that the interest rate on borrowings in india is 1 percent while the interest rate on bank deposits in a u.s. bank is 6 p
BARSIC [14]
Those who try to benefit from a carry trade are hoping to borrow money at a low interest rate so that they can invest in something that will provide a higher return. People commonly do this between different foreign exchange markets to make the most on their return from investing in different country currencies. 
3 0
3 years ago
Xerox had a monopoly on photocopiers for several years as the technology underlying the photocopier was protected by strong pate
katovenus [111]

Answer:

C. international strategy.

Explanation:

There are several business strategies been used different corporate to survive and grow in various business condition.

International strategy is one of the business strategies that involve the adaptation of foreign policies and selling goods and services at the International market with some local customization to the product. When a firm pursues an international strategy, the head office of the firm retains fairly tight control over marketing and product strategy. Each subsidiary of the company, which is spread all over the world has independent operations with the least interference from the parent company.

In the given case, Xerox had a monopoly on photocopier technologies as they are protected by strong patents, which is their international strategy.

5 0
3 years ago
What are the main components of money in the United States​ today? The main components of money in the United States today are​
Komok [63]

Answer:

The answer is option B.

Explanation:

The main components of money in the United States today are the physical cash in the form of currency, and also the deposits that are made in the form of savings in various banks and other depository institutions. This is to take into account that, the asset that can be converted into cash is not considered under these components of money in the US.

7 0
3 years ago
Other questions:
  • Malik Corp.'s bank statement has an ending balance of $50,000. The deposits in transit were $6,000. NSF checks were $1,000. Chec
    5·1 answer
  • Outsourcing:
    10·1 answer
  • Which of the following statements is CORRECT?
    13·1 answer
  • Uber's review of drivers average passenger rutings., in order to make personnel decisions, is an example of which of the followi
    9·1 answer
  • Burberry's competitive advantage is through its differentiation strategy. What risk should Burberry remain aware of?
    11·1 answer
  • Innovators at 3M developed Scotchbrite Greener Clean scrub sponges from spiky agave plant leaves. Customers appreciate this supe
    12·1 answer
  • Why do people buy franchise instead of expanding by opening more stores​
    9·2 answers
  • A union might increase the demand for the labor services of its members by Multiple Choice decreasing the demand for the product
    15·1 answer
  • At October 31, Dingo, Inc. had cash accounts at three different banks. One account balance is segregated solely for a November 1
    11·1 answer
  • Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at a target selling price of $
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!