AstPoint Industries shows drawing account balance $15,000 and capital account $100,000. Determine the proprietor's closing capital.
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- Question: 1) Calculate the closing capital from the above information: Drawings: $20 000 opening capital: $100 000 Net loss: $50 000. reqiured: please answer this question by calculating the correct closing capital figure from the above information.Assume that the Current Assets for Rain Co. as of Decebmer 31, 20Y8, are listed below. A. Assume further that the total Current Liabilites on the same date are $75,000. What is the amount of the working capital for Rain Co. on December 31, 20Y8? B. Assume further that the total Current Liabilites on the same date are $75,000. What is the amount of the working capital for Rain Co. on December 31, 20Y8? ASSETS Current assets: Cash $ 17,500 Temporary Investments 15,000 Accounts Receivable (net) 42,500 Inventories 72,000 Prepaid Expenses 3,000 Total current assets $150,000Warehouse has net working capital of $3,600, total assets of $23,700, and net fixed assets of $15,200. What is the value of the current liabilities?
- XYZ Co. has current assets of OR 75000 and total assets of OR 210000. It has current liabilities of OR 45000 and total liabilities of OR 110000. If during the year he had drawings OR 7500, retained earnings OR 34000 & Net Profit for the year OR 12500. What will be the amount of XYZ's Opening Capital?A statement of affairs shows $30,000 of assets pledged to partially secured creditors, liabilities of $65,000 to partially secured creditors, liabilities of $25,000 to unsecured creditors with priority, and liabilities of $90,000 to other unsecured creditors.What are total unsecured liabilities, as reported on the statement of affairs? Select one: a. $155,000 b. $100,000 c. $ 90,000 d. $125,000Sonic Corporation recorded current assets of $345,200 and current liabilities of $318,650 for year 2020. Compute for Sonic's working capital for the year. Select one: a. $663,850 b. $26,550 O C. 92% d. 1.08
- The following sre the ending balances of accounts st December 31, 2021, for the Valley Pump Corporstion. Account Title Cash Accounts receivable Te Inventory Intarest payble Delits Credits $ 31,000 93,eea $ 16, 800 Investrant in equity securities Land Buildirgs Accurulated depreciation-buildings 56,000 132,00a 185, e Equipnent Accurulated depreciation-equiprent 87,000 31, 00 Copyr right (net) 18,000 Prepaid expenses (next 12 nonths) Accounts payable Deferred Notes payable Allawance for uncallectible accounts 71, ee 26, 00 280, e 6, 00 260, 0e 57, 00 revenue (next 12 months) Cormon stock Retained earnings Totals $853,68a sas3, a00 Addltionel Information: 1 The $132,000 balance in the land account conslsts of $106,000 for the cost of land where the plant and office buldings sre located. The remsining S25,000 represents the cost of Isnd being held for speculstion. 2 The $56,000 balance in the Investment in equity securities sccount represents an Investment in the common stock of another…The following information is available for a FVTOCI investment: Purchase price $400,000; Unrealized holding gain at the end of year 1 $5,000; Unrealized holding gain at the end of year 2 $6,000. Calculate the balance in the AOCI equity holding (loss) or gain account at the end of year 2 for reporting purposes. O Gain of $6,000 O Gain of $411,000 O Gain of $5,000 O Gain of $11,000What is the amount of the net fixed assets?
- Using the following information, determine the net operating income (NOI) for the first year of operations of the subject property using "above-line" treatment of capital expenditures. Subject Property Number of apartments Market rent (per month) Vacancy and collection losses Operating expenses Capital expenditures O $135,000 $162,000 $137.700 $153,900 15 1000 10% of PGI 5% of EGI 10% of EGIPlease given answer AccountingNot Applicabl 16. UWner s Capital Activity #6: Accounting Equations 15,500,000. What is the amount of liabilities? respectively. What is the amount of the assets? c) The liabilities of Mindanao Farms equal one-third of the assets, and the oWners equity is 16,000,000. What is the amount of the liabilities? d) At the beginning of the year. LVM Consulting assets were 27,500,000, and its owner's equity was 15,000,000. During the year, assets increased 7,500,000 and liabilities decrease 2,250,000. What is the owner's equity at the end? 19 | Page Instructions: Use the accounting equations to answer the following: b) The liabilities and owner's equity of Visayas Tours are 7,200,000 and 7,950,00, a) The assets of Luzon Petroleum are 40,000,000, and the owner's equity is
