Consider the information given below. If the net income is $3,000 and owner withdrawals are $9,000, how much did the owner contribute (owner's capital)? Category Beginning of Year ($) End of Year ($) Assets $30,000 Liabilities $20,000 $75,000 $35,000
Q: At the beginning of the year, Crane Ltd. had total assets of $710,000 and total liabilities of…
A: To calculate the total liabilities at the end of the year, we use the accounting equation:…
Q: Hii expert please given correct answer general accounting
A: Step 1: Define Gross MarginA company's gross margin is the revenue that remains after directly…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Net IncomeNet income (or loss) for a period is calculated as the change in…
Q: Sub. General Account
A: Step-by-Step ExplanationTo calculate the Work in Process (WIP) Inventory on hand at December 31, we…
Q: Please solve this question general Accounting
A: Step 1: The accrued interest expense from September 1 to December 31, 2018 will be recorded on…
Q: Accounting 25
A: Concept of Net IncomeNet Income represents the total profit a company earns after deducting all…
Q: Financial Accounting
A: For this question we must solve for the weight of each source of capital in computing for the…
Q: Need answer
A: Book value on December 31, Year 2 = Book value at beginning of January 1, year 2 - Depreciation…
Q: Hamilton corp issued a long term bond... Please answer the financial accounting question
A: Step 1: Given Value for calculation Bond Interest Rate = 9%Average Expected annual Inflation Rate =…
Q: Dunbar Corporation can either purchase an asset for $38,000, which will have no value after 13…
A: Step 1: Given Value for Calculation Purchase Price of Asset = $38,000Time = t = 13Annual Lease…
Q: Hii tutor please answer me this financial accounting question
A: Explanation of Debt-to-Equity Ratio:The debt-to-equity ratio is a fundamental financial metric that…
Q: What is the percentage contribution margin solve this accounting questions
A: Step 1: Definition of Contribution Margin PercentageThe Contribution Margin Percentage represents…
Q: What is the effective cost of debt of Home Depot on these financial accounting question?
A: The question requires the determination of the effective cost of debt. The cost of debt is the…
Q: Q.N. 64 FINANCIAL ACCOUNTING 3.23.21
A: Explanation of Break-Even Point:The break-even point is the sales level at which total revenue…
Q: Provide solution this following requirements on these financial accounting question
A: Explanation: We are provided with the following data:Weight of Common stock (We) = 50% or 0.50Weight…
Q: The 2019 annual report for Anglo-American PLC, the world's leading global mining company, shows that…
A: Step 1: Calculation of Total AssetsTotal Assets = Non-current Assets + Current AssetsTotal Assets =…
Q: RRR Stores has total debt of $6,666 and a debt-equity ratio of 0.59. What is the value of the total…
A: Step 1: Calculation of EquityStep 2: Calculation of Total assetsTotal assets = Debt + EquityTotal…
Q: Choose correct option in this account query.
A: Step 1: Key InformationBeginning Inventory:Units: 750Materials Cost: $7,800 (60% complete)Conversion…
Q: # general account
A: Given InformationBeginning work in process inventory:Units: 13,000Total cost: $36,000100% complete…
Q: What is the receivables collection period?
A: Step 1: Definition of Receivable Collection Period (Days Sales Outstanding - DSO)The Receivable…
Q: General Accounting Question please solve this one
A: Step 1: Define Variable OverheadVariable overhead refers to the indirect costs that vary directly…
Q: How much long term debt does the firm have? Please answer the accounting question
A: Step 1: Define Long-Term DebtLong-term debt refers to loans or financial obligations that a company…
Q: Need answer the accounting question please answer
A: Step 1: Define Variable CostingVariable costing is a method of inventory valuation in which only…
Q: Calculate the total manufacturing costs incurred during 2024??
A: Step 1: Definition of Total Manufacturing CostsTotal manufacturing costs include all the costs…
Q: Calculate both part of Question
A: Explanation of Return on Investment (ROI):Return on Investment (ROI) is a financial metric used to…
Q: Costing
A: Explanation of Direct Materials: Direct Materials are raw materials that can be directly traced to…
Q: Financial Accounting
A: Concept of Cash Flow to Creditors:Cash flow to creditors measures the amount of cash a company has…
Q: Gross profit of $1.25 on each sale ? General accounting
A: Step 1: Definition of Selling PriceThe selling price is the total amount charged to a customer for a…
Q: Get correct answer accounting questions
A: To determine the total manufacturing costs, we sum up the direct materials used, direct labor, and…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Cost of Goods SoldThe cost of goods sold is the sum of all direct expenses required…
Q: Don't give me incorrect solution
A: Let's calculate manually step by step. a. ROE (Return on Equity):The formula is:ROE=Profit…
Q: How much are the total costs to be assigned to ending inventory? Subject - General Account
A: To calculate the total costs assigned to ending inventory, we consider the costs for materials and…
Q: Please provide solution this financial accounting question
A: Step 1: Define Recognized Gain and Identification of Shares SoldWhen selling stocks, the recognized…
Q: Gross profit of $1.25 on each sale ?
A: To determine the selling price per cookie to earn a gross profit of $1.25 on each sale: The formula…
Q: A company has net income of $268,000 and total assets of $2,576,000. What is the ROA? Question
A: 1. Calculate Return on Assets (ROA) Formula: ROA = Net Income / Total Assets Calculation: ROA =…
Q: The methods of accounting for a lease by the lessor are:
A: The correct answer is:a. operating and finance lease method. Explanation:The lessor accounts for…
Q: Please give me answer general accounting question
A: Step 1: Define Bad DebtBad debt can be defined as the account receivable that is unrecoverable for…
Q: The company's total assets turnover is equal???
A: Step 1: Define Asset Turnover RatioThe asset turnover ratio illustrates how many times a company was…
Q: general account expert solve.
A: Step 1: Calculate Standard Variable Overhead CostThe standard variable overhead cost is based on the…
Q: Quick answer of this accounting questions
A: To calculate.Volume Variance=(Denominator Activity−Actual Activity)×Standard Fixed Overhead Step…
Q: Financial Accounting
A: Step 1: Define Return on Equity (ROE)Return on Equity (ROE) is a measure of financial performance…
Q: Hi tutor of general account answer me
A: To calculate Company Y's retained earnings, we use the accounting equation:…
Q: Can you help ?? General Account ??
A: Problem BreakdownWe are given:Sales = $100,000Gross margin = 40% of salesBeginning inventory =…
Q: Compute the cost of each machine. Sub - General Accounting.
A: To compute the total cost of each machine, we sum up all the costs associated with acquiring and…
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of Selling Price with MarkupThe selling price with a markup is calculated by…
Q: Subject:- General Account
A: There are 2(Two) Requirements Questions: 1 To verify if this is true or false:Formula for Finished…
Q: EXPLAIN THE CONCEPT OF REVENUE RECOGNITION. WHAT ARE THE CRITERIA THAT MUST BE MET BEFORE REVENUE…
A: Detailed explanation:Revenue recognition is an accounting principle that determines when a business…
Q: What must total assets turnover.? General accounting
A: Step 1: Define Asset TurnoverAsset turnover is a financial ratio to measure the firm's efficiency…
Q: What is the dividend yield if your annual dividend income is 255 on these financial accounting…
A: Given:Shares = 150Share price = $42.5Annual dividend income = $255 Market value of shares = number…
Q: Ross corporation, a calendar year taxpayer, had a taxable income of $90,000, which included a net…
A: Concept of Taxable IncomeTaxable income refers to the portion of a corporation's or individual's…
How much did the owner contribute on these general accounting question?
Step by step
Solved in 2 steps
- The financial information is presented below for Bob's Appliance for the fiscal year ended 12/31/2020. $720,000 12,000 31,000 25,000 8,000 10,000 400,000 24,000 12,000 6,000 120,000 48,000 9,000 8,000 4,000 24,000 95,000 38,000 Sales Tax-exempt interest Long-term capital gain Short-term capital loss Interest income Passive activity loss Cost of goods sold Depreciation Section 179 expense Charitable contributions Bob's salary expense Employee salary expense Payroll taxes on employee Medical insurance expense for Bob Medical insurance expense for employee Rent expense Other operating expenses Net operating loss (from year ended 12/31/2019) Bob is a sole proprietor of the company and he has 1 employee. Assume Bob is single, no dependents, and does not itemize his deductions. Other than the income from Bob's Appliance, Bob has a short term capital loss of 22,000. Question #1) What is the income from Bob's appliance business? Be sure to show and label all your work and cell reference.…"What was the return on net worth for the year?" Investment Assets at Year End $170,000 Investment Assets at Beginning of Year $125,000 Savings $25,000 Employer Match to 401(k) $4,800 Gross Income $120,000 Total Assets at Year End $650,000 Total Assets at Beginning of Year $610,000 Total Liabilities at Year End $235,000 Total Liabilities at Beginning of Year $240,000 4.11% O 12.16% 9.45% 5.41%.Please solve this general accounting problem with calculation
- Calculate Return on Total Assets each year separately.what is the amount of rogers 2021 NOL? net loss from business - (30,000) salary from employment-10,000 int income from savings -3000 net loss from rental of property -(5000) bet long term capital gain from sale of business property -7000 net short term capital loss -(4000) standard deductio -12,400⦁ As a financial planner, based on the following information given by your client. ⦁ Annual Savings to IRA - $5,000 ⦁ Investment Balance (beginning of the year) - $70,000 ⦁ Net Worth (beginning of the year) - $800,000⦁ IRA Balance (beginning of the year) - $65,000 ⦁ Investment Balance (end of the year) - $81,300⦁ Net Worth (end of the year) - $970,000 ⦁ IRA Balance (end of the year) - $72,000 Calculate the following ratios, and comment on if they are within the normal range.a. The return on investments ratio =?b. The return on the IRA ratio =? c. The return on net worth ratio =?