Answer and Explanation:
- Closing Balance (Retained earning ) of 31 Dec 2018 is called Opening Balance of 1 Jan 2019 , i.e. $42,100
- There is no particular information provide for 1 Jan 2018 .So, assume there is Zero balance of retained Earning
- Calculation of retained earning of 31 Dec 2017
Retained earning $42,100
Less: revenue during the year $19,400
Add: Expenses During the year $9,800
<u>Add : Dividend $500 </u>
Retained earning on 31 Dec 2017 $33,000
- Retained earning is a temporary account So, $33,000 is balance of Retained earning At 30 June 2018.
Answer: $690
Explanation:
The 2018 year- end adjusted balance of Salaries Payable will be calculated as:
= January 1, 2018 balance + Adjustment on December 31, 2018
= $0 + $690
= $690
Note: Salaries accrued at December 31, 2018 will be:
= (Number of days from December 29 - 31) × Salary per day
= 3 × $230
= $690
Therefore, the balance on salaries payable is $690
Answer:
subsititution
Explanation:
Since in the situation it is mentioned that margot has fallen with 3 set bedroom i.e. 2500 square foot and its amount is $400,000. Now there is another three set bedroom of 2,400 square foot and its amount is $350,000 so here two options are given and according to the price he opted for the second property
So out of two choices he should opt for one that means it is a subsititution economic principle
Answer:
A. $86,900
Explanation:
Henry’s capital account will be credited by the amount of $86,900. See computation below.
Cash $57,300
Equipment 34,100
Inventory 10,400
Note payable (14,900)
————
Total $86,900
*Both the equipment and the inventory will be recorded on partnership’s book at fair market value at the time of contribution.
*The partnership may absorb the obligation if it is associated with an asset contributed by partner. Thus, it will be deducted to his capital account as contribution to the partnership.