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
Arlecino [84]
3 years ago
5

Ramos Inc. has total assets of $1,000 and total liabilities of $450 on December 31, 20Y6. Assume that assets increased by $130 a

nd liabilities decreased by $25 during 20Y7. What would owner's equity be as of December 31, 20Y7?
Business
1 answer:
sukhopar [10]3 years ago
5 0

Answer:

The owner's equity be as of December 31, 20Y7 is $705

Explanation:

In this question, we apply the accounting equation which is given below

Total assets = Total liabilities + shareholder's equity

The question has said that the liabilities are decreased and the assets are increased.

So, the new asset is = total assets + increased amount

                                 = $1,000 + $130

                                 = $1,130

And, So, the new liability is = total liabilities - decreased amount

                                 = $450 - $25

                                 = $425

So, the shareholder equity would be equal to

= $1,130 - $425

= $705

Hence, the owner's equity be as of December 31, 20Y7 is $705

You might be interested in
On March 13, a company writes off a customer's account of $3,500. On June 3, the customer unexpectedly pays the $3,500 balance.
Yuri [45]

Answer and Explanation:

The journal entries are shown below:

1. Allowance for doubtful Accounts Dr      $3,500

            To Accounts receivable         $3,500

(Being the allowance for doubtful account is recorded)

2. Accounts receivable Dr $3,500

           To Allowance for doubtful Accounts $3,500

(Being the written off amount is recorded)

3. Cash Dr $3,500

        To Account receivable $3,500

(Being the cash collection is recorded)

Only these 3 entries are required

5 0
3 years ago
Amila is examining the monthly returns of various stocks. she would like to compare the underlying distributions of the stocks v
Masteriza [31]

An alternative plot for Amila to use is to use a graph to depict the data.

<h3>How to illustrate the information?</h3>

From the information, she is worried that it is difficult to compare the distributions of two stocks that are not next to each other on the plot.

Therefore, a graph can be used to better illustrate the information.

Learn more about graph on:

brainly.com/question/19040584

#SPJ1

8 0
2 years ago
Suppose you win on a scratch‑off lottery ticket and you decide to put all of your $ 3,500 winnings in the bank. The reserve requ
Katarina [22]

Answer:

$3,325

Explanation:

Reserves are maintained to fulfil the customers withdrawal requirement. It is imposed by the State bank over the Banks to hold a specific percent of cash as reserves. Bank hold the reserves and invest or utilize the residual in the market.

In this question 5% of $3,500 will be reserved and the remaining $3,325 will be available for the money supply in the market in different forms.

the maximum possible increase in the money supply as a result of your bank deposit is $3,325.

5 0
3 years ago
Which layer communicates with the physical hardware and is responsible for the delivery of signals from the source to the destin
otez555 [7]
<span>The physical hardware and is responsible for the delivery of signals from the source to the destination over a physical communication platform is the data link. The data link allows the layer to communicate in a way that helps everything fall into place.</span>
5 0
3 years ago
Wall Street financial services firms and banks rewarded employees for developing "innovative" new financial investment vehicles
Nataly [62]

Answer:

Incentive plans

Explanation:

Incentive plans are strategies in which representatives of an association are kept persuaded for the work that they do, and are given motivators on coming to or achieving certain association objectives. The motivator plans can be for lower level workers, center administration and senior administration.  

It is the apparatus utilized by entrepreneurs to empower, perceive and reward uncommon execution in their workers.

6 0
3 years ago
Other questions:
  • What is NOT a reason to reconcile a checking account when the account statement comes?
    10·1 answer
  • Registration in Ms. McNick's classes reaches maximum enrollment quickly. Students register immediately online just to insure the
    13·1 answer
  • The Ascent, a mountain bicycle manufacturer, has been in the bicycle industry for a year now. The CEO wishes to better the compa
    9·1 answer
  • Both the seller’s and buyer’s opening escrow packages have some of the same documents. Which document in the opening package is
    7·1 answer
  • A firm that offers tailor-made suits to its customers is appealing to the ____________ dimension of the customers’ utility funct
    8·1 answer
  • Assessment of a potential supplier’s financial situation:
    11·1 answer
  • Chris donated securities with a cost of $20,000 and a fair market value of $50,000 to a local civic theater. Chris's tax deducti
    6·1 answer
  • Jackson and Campbell have capital balances of $100,000 and $300,000, respectively. Jackson devotes full time and Campbell devote
    5·1 answer
  • Nancy Groom owns one $1,000 corporate bond issued by General Motors. The bond pays 8.5 percent. If interest is paid semiannually
    11·1 answer
  • What is the presses that creates a shortcut on your taskbar
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!