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
prohojiy [21]
2 years ago
9

If the owner contributes $19,400 and net income is $15,900, how much did the owner withdraw (owner, withdrawals)

Business
1 answer:
NeX [460]2 years ago
3 0

Answer:

The owner withdrew $8,300

Explanation:

As per given Data

_______________ Assets ____Liabilities

Beginning of Year: $25,000 ___$17,000

End of Year: _____$62,000 ___$27,000

First, we need to the Beginning and Ending Equity value using following formula

Equity = Assets - Liabilities

Beginning Equity = Beginning Assets - Beginning Liabilities

placing values in the formula

Beginning Equity = $25,000 - $17,000 = $8,000

Ending Equity = Ending Assets - Ending Liabilities

placing values in the formula

Beginning Equity = $62,000 - $27,000 = $35,000

Now use the following formula to calculate the amount of drawing

Ending Equity = Beginning Equity + Contribution + Net Income - Owner withdrawal

Placing values in the formula

$35,000 = $8,000 + $19,400 + $15,900 - Owner withdrawal

$35,000 = $43,300 - Owner withdrawal

Owner withdrawal = $43,300 - $35,000

Owner withdrawal = $8,300

You might be interested in
What is the budgeted cost of goods sold given the following for next budget
Andreas93 [3]

Answer:

what is this i don't know hope I will understand plz don't be angry

4 0
3 years ago
Gary Smith just launched a firm in the sports drink industry. He has decided to focus his efforts on appealing to extreme sports
grandymaker [24]
I think it is C: target market
8 0
3 years ago
Complete Part 1 of the assignment by giving three examples of your workplace strengths and explaining each with one or two parag
lawyer [7]

Answer:

Some examples of strengths you might mention include:

Enthusiasm.

Trustworthiness.

Creativity.

Discipline.

Patience.

Respectfulness.

Determination.

Dedication.

Explanation:

8 0
3 years ago
What are the relationship between management and motivation
Lina20 [59]
Hello there,

The difference between \boxed{management} and \boxed{motivation} is that the word management means to manage something carefully and good. And the word motivation is to motivate someone to do something weather good or bad.

~Jurgen
4 0
3 years ago
Hilton's 2001 segment reporting note showed that Hotel Ownership has revenue of $1,886 million, operating income of $474 million
Roman55 [17]

Answer:

Option A is correct one.

<u>Managing & Franchising s asset turnover ratio at 17.6% suggests inefficiency when compared to Hotel Ownership</u>

Explanation:

The ratio of the operating return on sales for hotel ownership is:

474/1886 = 0.25

The asset turn-over for hotel ownership is :

1886/492.5 = 0.38 = 38%

Now, for managing and franchising :

The ratios are:

Operating return to sales = 113/ 120 = 0.94

Asset Turnover = 120/680 = 0.1765 = 17.65%.

6 0
3 years ago
Other questions:
  • Last week john got a call from his contact eric at alpine telecomm in switzerland, one of his company's largest international cu
    14·1 answer
  • I'LL GIVE YOU BRAINLIST!!!!!
    5·1 answer
  • Researcher access to confidential records adds to the vulnerability of workers who participate in workplace studies. Inappropria
    6·1 answer
  • In modern corporations—especially those in the United States and the United Kingdom—a primary objective of corporate governance
    11·1 answer
  • Bates Company currently produces and sells 4,000 units of a product that has a contribution margin of $5 per unit. The company s
    10·1 answer
  • Swifty, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 50 range instruments
    9·1 answer
  • Tanouye Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Ho
    8·1 answer
  • Milo is the owner of a sporting goods store that has only been open for three months. The holiday season is coming up, and Milo
    6·1 answer
  • When ________, business firms will collectively supply a lower quantity of output at any given price, and the supply curve will
    12·1 answer
  • A ________ is an intermediate step in the transition from a free trade area to a common market.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!