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
Scorpion4ik [409]
3 years ago
15

Review the transactions and determine the accounts, the account types (use assets, liabilities, equity, dividends, revenue, and

expenses), if they increase/decrease and if they are DR/CR.
Assets Liabilities
Beginning of the year: $27,000 $16,000
End of Year: $61,000 $25,000
1) What is the equity at the beginning of the year?
2) What is the equity at the end of the year?
3) If the company issues common stock of $5,300 and pay dividends of $44,200, how much is net income (loss)?
4) If net income is $3,800 and dividends are $6,600, how much is common stock?
5) If the company issues common stock of $16,500 and net income is $18,700, how much is dividends?
6) If the company issues common stock of $42,900 and pay dividends of $3,100, how much is net income (loss)?
Business
1 answer:
aksik [14]3 years ago
7 0

Answer and Explanation:

The computation is shown below:

1.

Beginning Equity = Beginning Assets – Beginning Liabilities

= $27,000 - $16,000

= $11,000

2.

Ending Equity = Ending Assets – Ending Liabilities

= $61,000 - $25,000

= $36,000

3.

Increase in Equity = Ending Equity – Beginning Equity

= $36,000 - 11,000

= $25,000

Now

Increase in Equity = Issue of Common Stock + Net Income - Dividend

$25,000 = $5,300 + Net Income - $44,200

Net Income = $63,900

4.

Increase in Equity = Issue of Common Stock + Net Income - Dividend

$25,000 = Issue of Common Stock + $3,800 - $6,600

Issue of Common Stock = $27,800

5.

Increase in Equity = Issue of Common Stock + Net Income – Dividend

$25,000 = $17,200 + $19,600 - Dividend

Dividend = $11,800

6.

Increase in Equity = Issue of Common Stock + Net Income – Dividend

$25,000 = $42,900 + Net Income - $3,100

Net Income (loss) = -$14,800

You might be interested in
Luke is the owner of Fun Times, a U.S. event-planning company. He plans to open an event-planning company, Events & Adventur
Ilia_Sergeevich [38]

Answer:

The answer is d. wholly owned subsidiary

Explanation:

A wholly owned subsidiary is a company whose entire stock is held by another company, called the parent company. In this case Fun Times will own 100% of Events & Adventures'  common stock.

3 0
3 years ago
A single taxpayer earns $500,000 of salary income and $20,000 of interest income in 2019. The taxpayer is a material participant
sukhopar [10]

Answer:

$220,000,

Explanation:

Given that:

  • $500,000 of salary income
  • $20,000 of interest income in 2019

So the total income of the taxpayer is: $500,000 + $20,000 = $520,000

As we know that, AGI (Adjusted gross income) is used to calculate how much income of a taxpayer is taxable. They are expenses incurred by the earner which are deducted before taxing.

In this situation, his share of the partnership's loss for the year is $300,000, so the taxpayer will report an AGI of:

$520,000  -  $300,000

=  $220,000

I hope it will find you well.

6 0
3 years ago
Read 2 more answers
Knowing that a third party may use the information that Ray is providing, does Ray owe a duty of confidentiality to Onyx?
artcher [175]

Answer:

<em>B. Yes, although it may be breached in most states if there is a court order to do so.</em>

Explanation:

<em>Duty of confidentiality is a provision that has been put in place in most states, to enable clients open up freely if they need help. This allows professionals to take whatever actions necessary to carry out full service delivery when helping the client. </em>Some of these details include health status, a client-lawyer case story, a social media's access to users' personal details, etc. The law prohibits professionals from disclosing information made available to them by the client to a third party. This duty is held by many professional bodies like the medical body, legal body, among others. <em>This duty can be broken by law in situations where the client sues the professional, or when there is a legal court order to do so</em>.

3 0
3 years ago
Which of the following is not something your group might do while selecting the best solution?
kipiarov [429]

Answer:

The group would not use brainstorming to select the best solution. It would use any of the other answers.

<em>I did that question</em>

<em>Hope I Helped</em>

3 0
3 years ago
An unfavorable materials quantity variance indicates that:.
skelet666 [1.2K]

An unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

<h3>What do you mean by material quantity variance?</h3>

The material quantity variance refers to the difference between the standard amount and the actual amount of materials used in the production process.

The material quantity variance yield unusual results as it is based on a standard unit quantity that is not even close to the actual usage.

Therefore, an unfavorable materials quantity variance indicates that the actual usage of materials exceeds the standard material allowed for output.

Learn more about Material Quantity variance here:

brainly.com/question/15082996

#SPJ1

3 0
2 years ago
Other questions:
  • g A firm encountering economies of scale over some range of output will have a Multiple Choice rising long-run average cost curv
    5·1 answer
  • The main cause for the increase in corporate debt in america is
    7·1 answer
  • The manager of your company's pension fund is compensated based entirely on fund performance; he earned over $1.2 million last y
    7·1 answer
  • Maria wants to become a computer programmer. What SMART, short-term goal could she set for herself
    9·2 answers
  • Using income as the tax base, which of the following best illustrates a regressive tax? Multiple Choice 1. the corporate income
    9·1 answer
  • Rist Corporation uses a predetermined overhead rate based on machine-hours to apply manufacturing overhead to jobs. The Corporat
    11·1 answer
  • Which statement or statements apply to a bond which is selling at a premium?
    6·2 answers
  • Joe Jones, Inc. has a beta of .85. The risk-free rate is 5% and the expected rate of return on the market portfolio is 10%. a. C
    12·1 answer
  • Direct operating margin may be used to determine departmental?
    15·1 answer
  • Why do people start any occupation? Write down in brief.​
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!