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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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Answer:

B. We strive to be the worldwide leader in sharing delicious tastes and creating joyful memories

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3 years ago
Maxim manufactures a cat food product called Green Health. Maxim currently has 10,000 bags of Green Health on hand. The variable
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Answer: $92,880

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The Gross Profit can be calculated by simply removing the cost from the sales amount.

It is stated that the additional processing will yield 10,000 bags of Premium Green and 3,600 bags of Green Deluxe, which can be sold for $7.55 and $5.55 per bag.

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2 years ago
site:coursehero.com why is it crucial to collect and analyze data when planning professional development sessions?
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Students are required to evaluate and analyze the data they gather in order to develop explanations for their results.

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1 year ago
A good is excludable if: a) Those who are unwilling or unable to pay for the good do not obtain its benefits. b) It is not possi
N76 [4]

Answer:

The correct answer is letter "A": Those who are unwilling or unable to pay for the good do not obtain its benefits.

Explanation:

The excludability feature of goods does not allow individuals to have access to them without having paid for them. Thus, non-excludable goods are those that no one cannot prevent its use. <em>Private goods</em> (clothing, vehicles, houses) are excludable but they are also considered rival goods since when one person uses it another individual cannot consume the goods.

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3 years ago
Read 2 more answers
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