At the year end, the total assets of a business were £189,000 and total liabilities were £126,000. During the year, the...
Homework Answers
Beginning equity = Assets-Liabilities = 180000-112000 = 68000
Ending equity = 189000-126000 = 63000
Profit (loss) = 68000+18000-10000-63000 = -13000
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At the year end, the total assets of a business were £189,000 and total liabilities were £126,000. During the year, the...
A corporation had the following assets and liabilities at the beginning and end of this year....
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $126,000 172,500 Liabilities $54,016 69,863 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $950 cash per month. C. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
A sole proprietorship had the following assets and liabilities at the beginning and end of this...
A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $142,000 195,500 Liabilities $60,875 79,178 a. Owner made no investments in the business, and no withdrawals were made during the year. b. Owner made no investments in the business, but withdrew $900 cash per month for personal use. c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000...
A corporation had the following assets and liabilities at the beginning and end of this year....
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $100,500 157,000 Liabilities $43,084 63,585 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,300 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
A corporation had the following assets and liabilities at the beginning and end of this year....
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets Liabilities $97,000 $41,584 148,000 59,940 3. Owner made no Investments in the business, and no dividends were paid during the year. b. Owner made no Investments in the business, but dividends were $750 cash per month. C. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
At the beginning of the period, assets were $200,000 and liabilities were $120,000. At the end...
At the beginning of the period, assets were $200,000 and liabilities were $120,000. At the end of the period, assets were $300,000 and liabilities were $160,000. During the period, the owner withdrew $10,000 for personal use and made additional investments of $50,000. The amount of net income or net loss for the period was...? A. Net income of $20,000 B. Net income of $40,000 C. Net income of $60,000 D. Net income of $20,000 E. Net loss of $40,000
A corporation had the following assets and liabilities at the beginning and end of this year....
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $120,500 177,500 Liabilities $51,658 71,888 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $800 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
A corporation had the following assets and liabilities at the beginning and end of this year,...
A corporation had the following assets and liabilities at the beginning and end of this year, Beginning of the year End of the year Assets $ 89,500 133,500 Liabilities $ 38,369 54,068 a. Owner made no investments in the business, and no dividends were paid during the year b. Owner made no investments in the business, but dividends were $600 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash...
A corporation had the following assets and liabilities at the beginning and end of this year....
A corporation had the following assets and liabilities at the beginning and end of this year. 1.42 points Beginning of the year End of the year Assets $112,500 162,500 Liabilities $ 48,229 65,813 eBook a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,150 cash per month. c. No dividends were paid during the year, but the owner did invest an additional...
dynamic production services started the year with total assets of $180,000 and total liabilities of $80,000....
dynamic production services started the year with total assets of $180,000 and total liabilities of $80,000. The company is a sole proprietorship. The revenues and the expenses for the year amounted to $150,000 and $75,000, respectively. During the year, there were no new capital contributions and the owner withdrew $60,000. Calculate Dynamic’s net income for the year.
dynamic production services started the year with total assets of $180,000 and total liabilities of $80,000....
dynamic production services started the year with total assets of $180,000 and total liabilities of $80,000. The company is a sole proprietorship. the revenues and the expenses for the year amounted to $150,000 and $75,000, respectively. During the year, there were no new capital contributions and the owner withdrew$60,000. Calculate Dynamic’s net income for the year.
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $126,000 172,500 Liabilities $54,016 69,863 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $950 cash per month. C. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
A sole proprietorship had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $142,000 195,500 Liabilities $60,875 79,178 a. Owner made no investments in the business, and no withdrawals were made during the year. b. Owner made no investments in the business, but withdrew $900 cash per month for personal use. c. Owner made no withdrawals during the year, but the owner did invest an additional $45,000...
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $100,500 157,000 Liabilities $43,084 63,585 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,300 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets Liabilities $97,000 $41,584 148,000 59,940 3. Owner made no Investments in the business, and no dividends were paid during the year. b. Owner made no Investments in the business, but dividends were $750 cash per month. C. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $120,500 177,500 Liabilities $51,658 71,888 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $800 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
A corporation had the following assets and liabilities at the beginning and end of this year, Beginning of the year End of the year Assets $ 89,500 133,500 Liabilities $ 38,369 54,068 a. Owner made no investments in the business, and no dividends were paid during the year b. Owner made no investments in the business, but dividends were $600 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash...
A corporation had the following assets and liabilities at the beginning and end of this year. 1.42 points Beginning of the year End of the year Assets $112,500 162,500 Liabilities $ 48,229 65,813 eBook a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,150 cash per month. c. No dividends were paid during the year, but the owner did invest an additional...
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