Selena receives $43,300 from Douglas for her 30% stake in a partnership with $127,900 in net assets. After this transaction, the capital account of Douglas should have a account balance of $38,370.
Douglas's Capital account balance
= Net assets x30%
= $127,900 x 30%
= $31,875
Therefore, Douglas's capital account should have a credit balance of $38,370
A financial repository's account balance represents the amount of money there is at the end of the current accounting period. It is the sum net assets of the balance carried over from the previous month and the net difference between the credits and debits that have been recorded during any given accounting cycle.
The amount due or the net debt may be shown in an account balance. The former is frequently depicted in financial accounts that include net assets recurring bills, like those for utilities or gym memberships. The latter, on the other hand, is reflected in accounts with negative cash balances, such as bank overdrafts.
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Answer:
Predetermined manufacturing overhead rate= $25.71 per direct labor hour
Explanation:
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
<u>Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base</u>
Predetermined manufacturing overhead rate= (1,192,360 / 52,000) + 2.78
Predetermined manufacturing overhead rate= 22.93 + 2.78
Predetermined manufacturing overhead rate= $25.71 per direct labor hour
Answer:
Organizing
Explanation:
Organizing involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals. This organizing, or structuring, process is accomplished by: Determining work activities and dividing up tasks (division of labor) Grouping jobs and employees (departmentalization
In the morning your shadow will point west and in the afternoon it will point east. If your shadow is long, it is near sunrise or sunset. Your shadow is shortest around noon
Answer:
Total assets = $8167
so correct option is c. $8,167
Explanation:
given data
Accounts Payable = $409
Fees Earned = $1,915
Accounts Receivable = 959
Insurance Expense = 436
Prepaid Insurance = 4,108
Land = 1,791
Cash = 1,309
Wages Expense = 731
Drawing = 321
Capital = 7,331
to find out
Total assets
solution
we get here Total assets that is express as
Total assets = Accounts receivable + Prepaid insurance + Cash + Land ...................1
put here value and we get
Total assets = 959 + 4108 + 1309 + 1791
Total assets = $8167
so correct option is c. $8,167
