Answer:
Please see below
Explanation:
Jan 2.
Dr Cash $13,100
Cr Owner equity $13,100
(Being owner's capital contribution to the business in form of cash)
Jan 3.
Dr Vehicle $3,930
Cr Cash. $3,930
(To record the purchase of used car in form of cash)
Jan 9
Dr Supplies. $655
Cr. Accounts payable $655
(To record supplies purchased on account )
Jan 16
Dr Account receivable $3,144
Cr Revenue $3,144
(Being the record of revenue earned on credit)
Jan 16
Dr Advertising expenses $459
Cr Cash $459
(Being the record of advertising expenses paid in cash)
Jan 20
Dr Cash. $917
Cr Account receivable $917
(Being the record of partial collection receivables)
Jan 23
Dr Account payables $393
Cr Cash $393
(Being the record of payment made to creditors)
Jan 28
Dr. Owner equity $1,310
Cr. Cash $1,310
(To record owner's withdrawal of capital in form of cash)
Answer:
$607,000
Explanation:
False Value Hardware began 2016 with a credit balance of $32,000 in the allowance for sales returns account.
Sales and cash collections from customers during the year were $650,000 and $610,000, respectively.
False Value estimates that 6% of all sales will be returned.
During 2016, customers returned merchandise for credit of $28,000 to their accounts.
False Value's 2016 income statement would report net sales of:
The closing balance in the allowance for sales returns account will be: 32,000 opening balance + 6% 0f 650,000 - sales returns within the year of 28,000 = $43,000
Hence Net Sales will be 650,000 - 43,000 = $607,000
Answer:
C
Explanation:
Now, you can get anything from anywhere.
Hope this helps!
Answer:
Montoya's taxable income = $2050
Explanation:
given data
received corporate bond = $2,350
received savings account = $750
to find out
Montoya's taxable income
solution
first we get here interest income that is
interest income = received corporate bond + received corporate bond
interest income = $2350 + $750
interest income = $3100
and we know that here standard deduction for dependent person tax return is = $1050
so here Montoya's taxable income will be
Montoya's taxable income = $3100 - $1050
Montoya's taxable income = $2050
Answer:
correct option is c. 43.75
Explanation:
given data
share own = 700
stock outstanding = 320000
market price = $25
interest and taxes = $160,000
debt = $500,000
interest = 7%
loan = 7.5 percent interest
to find out
How many shares of JKL stock must Theo sell to unlever
solution
first we get here no of share that repurchased is express as
no of share = 
..............1
no of share = 
no of share = 20,000 shares
sell = share own × ( no of share ÷ stock outstanding ) .................2
sell = 700 × 
sell = 43.75 shares
so correct option is c. 43.75
