Cost accounting questions... If beginning capital was $28,000, ending capitalis $65,000, and the owner's withdrawals were$31,000, the amount of net income or net losswas

Step 1: Understanding the Capital EquationIn accounting, the owner's capital changes over time due…

Answered: If beginning capital was $28,000,…

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter4: Gross Income

Section: Chapter Questions

Problem 2CE

See similar textbooks

Similar questions

The firm’s NOPAT= $115, depreciation expense is $12.5, amortization expense is $0, and interest expense is $15 and tax rate = 30%. What is the firm’s EBITDA?
From the following information for BlueInks Corporation, compute the rate of return on assets. Hint: The numerator is income before interest expense and taxes. Net income $40,878 Total assets at beginning of year $250,100 Total assets at end of year $158,680 a. 15% b. 25% c. 16% d. 20%
Capital O, X, Y, and Z are $10,000, $15,000, $16,000 and $18,000, respectively. O has a loan balance of $1,000. Profit is divided in a ratio of 5:2;1;2. Assets are sold, liabilities are paid, and cash remains of $6,000. How should this remaining cash be distributed?
What is the current liabilities on this financial accounting question?
You are given the following information for Company A.: sales = $73,900; costs = $54,100; addition to retained earnings = $5,700; dividends paid = $2,780; interest expense = $2,490; tax rate = 21 percent. What is Depreciation Expense for company Calculate the depreciation expense for the company.
Return on assets The financial statements of The Hershey Company (HSY) are shown in Exhibits 6 through 9. Based upon these statements, answer the following questions. 1. What are Hershey's sales (in millions)? 2. What is Hershey's cost of sales (in millions)? 3. What is Hershey's net income (in millions)? 4. What is Hershey's percent of the cost of the sales to sales? Round to one decimal place. 5. The percent that a company adds to its cost of sales to determine the selling price is called a markup. What is Hershey's markup percent? Round to one decimal place. 6. What is the percentage of net income to sales for Hershey? Round to one decimal place. 7. Hershey had total assets of $5,554 (millions) at the beginning of the year. Compute the return on assets for Hershey for the year shown in Exhibits 6–9. Round to one decimal place.
A return on assets of 5.15% means that a company is earning: O a. a $5.15 return on every $100 of assets minus liabilities. O b. a $5.15 return on every $100 of total assets. O c. a $5.15 return on every $100 of current assets. O d. a $5.15 return on every $100 invested in long-term assets.
Calculate working capital when: Cash=$100, Creditors=$100, Short-term loan=$100, Inventory (stock)=$100, Long-term loans = $100
What is the amount of ending capital shown on the balance sheet for Floress Catering? a. 22,000 b. 20,000 c. 45,500 d. 32,800
Total Liabilities amounts to P500,000. Total owner's equity is thrice the liabilities. How much is total assets?
If current assets are $112,000 and current liabilities are $56,000, what is the current ratio?
Given non-current assets of £40,000, current assets of £13,000, current liabilities of £4,000, and non-current liabilities of £10,000, owner's equity will be: The equity value is £enter your response here

SEE MORE QUESTIONS

Recommended textbooks for you

SWFT Essntl Tax Individ/Bus Entities 2020

Accounting

ISBN:

9780357391266

Author:

Nellen

Publisher:

Cengage

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

SWFT Essntl Tax Individ/Bus Entities 2020

Accounting

ISBN:

9780357391266

Author:

Nellen

Publisher:

Cengage

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

Financial Accounting Intro Concepts Meth/Uses

Finance

ISBN:

9781285595047

Author:

Weil

Publisher:

Cengage

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

If beginning capital was $28,000, ending capital is $65,000, and the owner's withdrawals were $31,000, the amount of net income or net loss was