Homework Answers
Answer is Capital , because profitable companies distribute in the form of dividends. Dividends are temporary accounts in Equity Shareholders accounts and are debited from Equity Shareholders accounts, after which they are closed at the end of the year.
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A profitable company may make distributions to the owner in the form of A. Withdrawals B....
Using the adjusted trial balance, calculate the total assets, liabilities, owner capital, owner withdrawals, revenues, and expenses.
Using the adjusted trial balance, calculate the total assets, liabilities, owner capital, owner withdrawals, revenues, and expenses. Enter those amounts in the expanded accounting equation. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016
Help Save Charlie's Chocolates' owner made investments of $74,000 and withdrawals of $32,000. The company has...
Help Save Charlie's Chocolates' owner made investments of $74,000 and withdrawals of $32,000. The company has revenues of $107.000 and expenses of $76,000. Calculate its net income. Multiple Choice Ο Ο Ο S76000. Ο $31000. Ο 573000 < Prex 307 Next >
Activity 3.b - More Practice with Classifying Accounts Fill in the blanks with the category of...
Activity 3.b - More Practice with Classifying Accounts Fill in the blanks with the category of the expanded accounting equation (assets; liabilities; owner, capital; owner, withdrawals; revenues; expenses). Do not abbreviate any answers. Office Furniture assets Owner, Capital Repairs and Maintenance Expense Owner, Withdrawals Rent Payable Service Revenue revenues Salaries (and Wages) Payable Supplies Expense
ABC Company's owner withdrawals $2,000 cash. What is the effect on the accounting equation? A. Assets...
ABC Company's owner withdrawals $2,000 cash. What is the effect on the accounting equation? A. Assets increase by $2,000 and equity increases by $2,000. B. Assets decrease by $2,000 and equity decreases by $2,000. C. Assets decrease by $2,000 and liabilities decrease by $2,000. D. The amount of total assets remains the same
Swed Help Save & Exit Submit Charlie's Chocolates' owner made investments of $56.000 and withdrawals of...
Swed Help Save & Exit Submit Charlie's Chocolates' owner made investments of $56.000 and withdrawals of $23.000. The company has revenues of $89.000 and expenses of $67000 Calculate its net income. Multiple Choice $33.000 $89.000 $67000 $22.000 $55,000
"Distributions" There are many types of distributions a company can make: dividends, noncash property, and stock....
"Distributions" There are many types of distributions a company can make: dividends, noncash property, and stock. Select a type of distribution and explain the impact the distribution will have on the corporation and its shareholders, as well as the impact the distribution may have on Earnings and Profit.
Drag the account types to form the expanded accounting equation. Begin the equity section with capital....
Drag the account types to form the expanded accounting equation. Begin the equity section with capital. Then, identify whether the item increases, '+', or decreases, '', equity. Owner, Capital: Cash Owner, Withdrawals Accounts Receivable Accounts Payable Revenues Expenses Unearned Revenues Liabilities : Assets Drag card here Drag card here Drag card here Drag card here Drag card here Drag card here Enter the missing value to balance the equation. = 48,000 + 8,000 – 18.000 + 4,000 - 24,000 96.000...
The following transactions were completed by the company. a. The owner (Alex Carr) invested $17.600 cash...
The following transactions were completed by the company. a. The owner (Alex Carr) invested $17.600 cash in the company. b. The company purchased supplies for $1150 cash, c. The owner (Alex Carr) Invested $11,300 of equipment in the company. d. The company purchased $330 of additional supplies on credit. e. The company purchased land for $10,300 cash. Required: Enter the impact of each transaction on Individual items of the accounting equation (Enter decreases to account balances with a minus sign.)...
The following transactions were completed by the company. a. The owner (Alex Carr) invested $17,400 cash...
The following transactions were completed by the company. a. The owner (Alex Carr) invested $17,400 cash in the company. b. The company purchased supplies for $1,100 cash. c. The owner Alex Carr) invested $11,200 of equipment in the company. d. The company purchased $320 of additional supplies on credit. e. The company purchased land for $10,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)...
1. The balance sheet lists which of the following? a. revenues, expenses, gains, and losses b....
1. The balance sheet lists which of the following? a. revenues, expenses, gains, and losses b. assets, liabilities, and owners’ equity c. revenues, expenses, gains, and distributions to owners d. assets, liabilities, and investments by owners 2. Exchanges of assets for assets have what effect on equity? a. There is no relationship between assets and equity b. increase equity c. may have no impact on equity d. decrease equity 3. Identify the correct components of the income statement. a. revenues,...
Using the adjusted trial balance, calculate the total assets, liabilities, owner capital, owner withdrawals, revenues, and expenses. Enter those amounts in the expanded accounting equation. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016
Help Save Charlie's Chocolates' owner made investments of $74,000 and withdrawals of $32,000. The company has revenues of $107.000 and expenses of $76,000. Calculate its net income. Multiple Choice Ο Ο Ο S76000. Ο $31000. Ο 573000 < Prex 307 Next >
Activity 3.b - More Practice with Classifying Accounts Fill in the blanks with the category of the expanded accounting equation (assets; liabilities; owner, capital; owner, withdrawals; revenues; expenses). Do not abbreviate any answers. Office Furniture assets Owner, Capital Repairs and Maintenance Expense Owner, Withdrawals Rent Payable Service Revenue revenues Salaries (and Wages) Payable Supplies Expense
ABC Company's owner withdrawals $2,000 cash. What is the effect on the accounting equation? A. Assets increase by $2,000 and equity increases by $2,000. B. Assets decrease by $2,000 and equity decreases by $2,000. C. Assets decrease by $2,000 and liabilities decrease by $2,000. D. The amount of total assets remains the same
Swed Help Save & Exit Submit Charlie's Chocolates' owner made investments of $56.000 and withdrawals of $23.000. The company has revenues of $89.000 and expenses of $67000 Calculate its net income. Multiple Choice $33.000 $89.000 $67000 $22.000 $55,000
Drag the account types to form the expanded accounting equation. Begin the equity section with capital. Then, identify whether the item increases, '+', or decreases, '', equity. Owner, Capital: Cash Owner, Withdrawals Accounts Receivable Accounts Payable Revenues Expenses Unearned Revenues Liabilities : Assets Drag card here Drag card here Drag card here Drag card here Drag card here Drag card here Enter the missing value to balance the equation. = 48,000 + 8,000 – 18.000 + 4,000 - 24,000 96.000...
The following transactions were completed by the company. a. The owner (Alex Carr) invested $17.600 cash in the company. b. The company purchased supplies for $1150 cash, c. The owner (Alex Carr) Invested $11,300 of equipment in the company. d. The company purchased $330 of additional supplies on credit. e. The company purchased land for $10,300 cash. Required: Enter the impact of each transaction on Individual items of the accounting equation (Enter decreases to account balances with a minus sign.)...
The following transactions were completed by the company. a. The owner (Alex Carr) invested $17,400 cash in the company. b. The company purchased supplies for $1,100 cash. c. The owner Alex Carr) invested $11,200 of equipment in the company. d. The company purchased $320 of additional supplies on credit. e. The company purchased land for $10,200 cash. Required: Enter the impact of each transaction on individual items of the accounting equation. (Enter decreases to account balances with a minus sign.)...
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