If the statement of changes in owner's equity shows an ending balance of 4,875,000 and the business had a net loss for the month worth 178,000 and the owner withdraw 450,000 how much was the owner's beginning capital?

If the statement of changes in owner's equity shows an ending balance of 4,875,000 and the business had a net loss for the month worth 178,000 and the owner withdraw 450,000 how much was the owner's beginning capital?

Name: If the statement of changes in owner's equity shows an ending balance
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: If the statement of changes in owner's equity shows an ending balance of 4,875,000 and the business had a net loss for the month worth 178,000 and the owner withdraw 450,000 how much was the owner's beginning capital?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Beginning owner’s equity amounted to P300,000. Net loss for the year totaled P45,000. No additional investments and withdrawals for the period. Compute for total increase and/or decrease in equity for the year.
at the end of an accounting period, a companys liabilities equaled $295000 and the owners equity equaled $210000 how much were the companys assets
Sadaf Oman Company started the year with total assets of RO 150,000 and total liabilities of RO 102,000. During the year, the business recorded RO 351,000 in revenues, RO 165,000 in expenses, and paid dividends of RO 30,000. Equity at the end of the year was Select one: O a RO 180,000. Ob. RO 204,000. Oc RO 150,000. Od. RO 220,000.
A company has liabilities of 15,500 and 20,200 of owner's equity at the year end. What is the total amount of assets held by the firm at year end?
11. If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were $23,000, the amount of net income or net loss for the period was: a. net loss of $35,000 b. net income of $35,000 c. net income of $14,000 d. net loss of $14,000 12. A company began the accounting period with $50,000 in owner's capital, ended with $75,000 in owner's capital, and the owner withdrew $30,000 during the period for personal use. What was the company's net income or loss for the period? a. $55,000 net income. b. $30,000 net loss. c. $5,000 net loss. d. $5,000 net income.
In January 2020, Ali Company’s assets valued at MYR 350,000, and its owner’s equity was MYR 150,000. During the year, assets increased MYR 45,000 and liabilities decreased MYR 22,000. What is the owner’s equity at the end of year 2020? Select one:A. MYR 217,000B. MYR 127,000C. MYR 150,000D. MYR 175,000
At the beginning of the year, long-term debt of a firm is $310 and total debt is $350. At the end of the year, long-term debt is $280 and total debt is $370. The interest paid is $50. What is the amount of the cash flow to creditors?
Please answer correctly. Thank you.
How much net income did H&M’s tool, incorporated, generate during 2021? What was the net profit margin? Is the company financed primarily by liabilities or stock holders equity? What is its current ratio?
During the year, a company had sales of $770,000 expenses of $330,000 and it declared and paid dividends of $265,000. The company began the year with retainer earnings of $160,000. What was the amount of retainer earnings at the end of the year? Show your work.
At the beginning of the year, Martinez Company had total assets of $968,000 and total liabilities of $581,000. Answer the following questions. Please note that the scenarios given below are independent. (a) If total assets increased $171,000 during the year and total liabilities decreased $62,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity $
REQUIRED: • CLOSING ENTRIES to close the Income Summary account for the following problems.