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DochEvi [55]
3 years ago
8

The beginning balance in the​ Lopez, Capital account of a company was $ 13 comma 000. The revenues and expenses were $ 220 comma

000 and $ 150 comma 000​, respectively. During the​ year, Lopez took withdrawals of $ 5 comma 000. There were no new capital contributions during the year. The ending balance in​ Lopez, Capital was $ 83 comma 000.
a. True.
b. False.
Business
1 answer:
blondinia [14]3 years ago
4 0

Answer:

a. True

Explanation:

The capital account of a soul proprietor is similar to the equity account of a company. It shows  how much the business owes the owner.

This includes the amount invested and net income over the years posted as part of the retained earnings.

Net income is the difference between the total revenue and total expenses.

Net income = $220,000 - $150,000

= $70,000

Net balance in capital account = $13,000 + $70,000

= $83,000

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This type of budgeting technique is commonly used because it provides a budget that is tied directly to the company's strategy a
mixer [17]

Answer:

Objective and task.

Explanation:

A budget is a financial plan used for the estimation of revenue and expenditures of an individual, organization or government for a specified period of time, often one year. Budgets are usually compiled, analyzed and re-evaluated on periodic basis. The benefits of having a budget is that it aids in setting goals, earmarking revenues and resources, measuring outcomes and planning against contingencies.

The budgeting method described in the question is called objective and task. It is typically used by various organizations or companies due to the fact that, it's tied directly to the strategy and tactics of a company on an annual basis. Also, it is used to set a budget for marketing efforts while anticipating on informations about the company.

8 0
3 years ago
At its $60 selling price, Atlantic Company has sales of $15,000, variable manufacturing costs of $4,000, fixed manufacturing cos
mash [69]

Answer:

$36

Explanation:

The contribution margin per unit is calculated by subtracting the variable cost per unit from the selling price.

Selling price is $60

Contribution margin per unit?

The total sales in dollar value are $15,000, The sales in units equal to

=$15,000 /60

=250 units

Total variable costs will include variable manufacturing cost plus variable selling and administrative costs

=$4000 + $2000

=$6000

variable cost per unit will be the total variable cost divide by units produced

=$6000/250

=$24

Contribution margin per unit = $60- $24

=$36

6 0
3 years ago
an important aspect of any type of bankruptcy proceeding is the protection that the debtor has after filing for bankruptcy. the
Mariana [72]

Liquidation or the most frequent type of bankruptcy for individuals is straight bankruptcy. Your assets—anything you own with monetary value—are liquidated (sold) under the supervision of a court-appointed trustee in order to satisfy your debts.

<h3>How can bankruptcy be avoided?</h3>

preserving a positive cash flow, choosing a change in management, basing decisions on a business strategy, maintaining correct financial records, and maintaining excellent relations with creditors.

<h3>Which two primary categories of bankruptcy are there?</h3>

There are two distinct categories of bankruptcy cases out of these five types: 1) Straight/Liquidation, 2) Reorganization—the latter requires the designation of classes of claims and interests in the reorganization plan.

To know more about the Straight bankruptcy visit :-

brainly.com/question/29382813

#SPJ4

8 0
1 year ago
Indicate all the items in the following list that are not factors of production and explain why. Item a​: Vans used by a baker t
exis [7]

Answer:

b. , c. , and e.

Explanation:

Based on the items provided within the question it can be said that the items that are not  factors of production are 1,000 shares of Amazon.com stock, undiscovered oil in the Atlantic Ocean, and a soda. This is because they are not productive resources that are being used to produce goods and/or services, land, labor, capital, or entrepreneurship  like the rest of the items on the list.

8 0
3 years ago
All of the following are disadvantages to the franchisee except
katrin2010 [14]
Buying an established business means already has books set up & has loyal customers
6 0
3 years ago
Read 2 more answers
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