Homework Answers
Answer:
| 3. Option 4th is correct.i.e $ 307,000 |
| Net Income = Revenue - Expenses |
| Net Income = $ 634,000 - $ 327000 |
| Net Income = $ 307,000 |
| 2.Total Assets increase by $51,000 |
| Stockholder's equity decrease increase by 11,000 |
| so net effect on the Total Assets and stockholder's equity is (51000+11000) = 62,000 Increase |
| so total assets must change by $62,000 Increase |
| Answer is 2nd $62,000 Increase. |
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Question 3 2 pts Bramble Corp. started the year with total assets of $318.000 and total...
Question 2 2 pts If total assets increased by $51,000 and stockholders' equity decreased by $11,000...
Question 2 2 pts If total assets increased by $51,000 and stockholders' equity decreased by $11,000 during a period of time, then total liabilities must change by what amount and direction during that same period? • 40,000 decrease $62,000 increase $62,000 decrease $51,000 Increase $40,000 increase Question 7 1.5 pts These selected condensed data are taken from a recent balance sheet of Jane Gray's Farms (in millions of dollars). Cash Accounts receivable Inventory Other current assets Total current assets Total...
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please need help with this thank you Question 9 10 pts If total liabilities decreased by...
please need help with this thank you
Question 9 10 pts If total liabilities decreased by $50,000 and stockholders' equity increased by $20,000 during a period of time, then total assets must change by what amount and direction during that same period? $30,000 increase O $60.000 decrease $30,000 decrease $70,000 decrease
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D Question 7 1.5 pts These selected condensed data are taken from a recent balance sheet...
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Question 2 2 pts If total assets increased by $51,000 and stockholders' equity decreased by $11,000 during a period of time, then total liabilities must change by what amount and direction during that same period? • 40,000 decrease $62,000 increase $62,000 decrease $51,000 Increase $40,000 increase Question 7 1.5 pts These selected condensed data are taken from a recent balance sheet of Jane Gray's Farms (in millions of dollars). Cash Accounts receivable Inventory Other current assets Total current assets Total...
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5) Ahmet's Camera Shop started the year with total assets of $80,000 and total liabilities of $40,000. During the year, the business earned revenues of $120,000 and incurred expenses of $70,000. Scott made no capital contributions during the year, but did make withdrawals of $60,000. The net change in Scott's owner's equity for the year is a: A) $10,000 decrease. B) $40,000 increase. C) $30,000 decrease. D) $50,000 increase. RE TA = $80,000 TL = 40,000 FRS120.000
Question 1 0.4 pts Precision Camera Services started the year with total assets of $90,000 and total liabilities of $65,000. The revenues and the expenses for the year amounted to $100,000 and $70,000, respectively. During the year, the company did not issue any common stock, but it distributed dividends of $40,000. What is the amount of stockholders' equity at the end of the year? AS $100,000 $40,000 $15.000 O $70,000 a HD
Metropolitan Casting Services started the year with total assets of $110,000 and total liabilities of $45,000. The company is a sole proprietorship. The revenues and the expenses for the year amounted to $150,000 and $60,000, respectively. During the year, there were no new capital contributions and the owner withdrew $40,000. Calculate the amount of increase or decrease in owner's equity for the year. A. a(n) $115,000 increase B. a $50,000 increase O C. a(n) $65,000 decrease O D. a $40,000...
please need help with this thank you
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