Which of the following statements is not true about capital account? (a) It is a representative personal

Question:

Which of the following statements is not true about capital account?

(a) It is a representative personal account.

(b) It is a liability for business enterprise.

(c) It is a real account.

(d) None of these.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

See More Books

Question Posted: Dec 13, 2023 12:23 PM

See More Questions

Need help please TB MC Qu. 5-96 (Static) You want to invest... You want to make five annual payments of $6,000 beginning now in order to accumulate $35,000 for a down payment on a house in five...
A Field is a related group of Files Characters Records Cables
A group of local behavior analysts gets together quarterly for a continuing education presentation followed by a group social and informal dinner. One of the members of our group is the owner of a...
Okay Optical, Inc., (OOI) began operations in January 2013, selling inexpensive sunglasses to large retailers like Walgreens and other smaller stores. Assume the following transactions occurred...
Assume that the solar radiation incident on Earth is 1,340 W/m2 (at the top of Earths atmosphere). Calculate the total power radiated by the Sun, taking the average separation between Earth and the...
Let h(x) = f(g)x)), where f and g are differentiable on their domains. If g(1) = 3 and g'(1) = 5, what else do you need to know to calculate h'(1)?
A company producing product X yields two by-products Y and Z. The following particulars relate to a particular period of operation in which the joint cost amounted to Rs 1,40,000: Product Sales (Rs)...
Arrington Company manufactures T- shirts printed with tourist destination logos. The following table shows sales prices and projected sales volume for the summer months: Prepare a sales budget for...
19. Munster trades land held for 3 years, worth $25,000 in which she has a basis of $18,000. She receives from Swiss land worth $25,000. Swiss had a basis of $2,000, and a holding period of 8 years...
Which of the following statements is true about drawings account? (a) It is a representative personal account. (b) It is a liability for business enterprise. (c) It is an expense account. (d) It is...
Which of the following statements is true about deferred revenue expenses? (a) The economic benefits from these are expected in the long-term period beyond the immediate next twelve months. (b) The...
Wenner Furnace Corp. purchased machinery for $279,000 on May 1, 2022. It is estimated that it will have a useful life of 10 years, residual value of $15,000, production of 240,000 units, and working...
Based on a survey, assume that 42% of consumers are comfortable having drones deliver their purchases. Suppose that we want to find the probability that when six consumers are randomly selected,...
What is the social location that determines this speech community? Is it determined by race, class, gender, sexuality, or some other social location? What makes this speech community unique? What are...
Write a program named SumOfNumberOfSquares.java that prompts user to enter a number of integers and calculates the sum of their squares. The following is a sample run. The green fonts represent user...
6.4 Charles Augustin de Coulomb was a French physicist who is best known for formulating the law that calculates the force between two electric charges. To honor Coulomb, the unit of electric charge...
What amount of cash payments to suppliers will be reported by Indigo Company for the year ended December 31, 2024?
What is the difference between disparate treatment and disparate impact?
In Problems 1522, find the principal needed now to get each amount; that is, find the present value. To get $750 after 2 years at 2.5% compounded quarterly.
If John invested $20,000 in a stock paying annual qualifying dividends equal to 4% of his investment, what would the value of his investment be 5 years from now? Assume Johns marginal ordinary tax...
help asap please!
Please, help asap! I have one day. Feedback will be given. & show some work. [in Excel] For the final project you will need you to create a spreadsheet /proforma of the cash flows from a property....

Which of the following statements is not true about capital account? (a) It is a representative personal

Question:

Step by Step Answer:

c It...View the full answer

Financial Accounting

Students also viewed these Business questions