Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 09, 2024

Net income is $29,000. Beginning capital balance was $34,000. Ending capital balance was $55,000. No capital contributions were made by the owner during the year.

Net income is $29,000. Beginning capital balance was $34,000. Ending capital balance was $55,000. No capital contributions were made by the owner during the year. What amount of drawings was made? Your answer: $18,000 $8.000 $5,000 $60,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Monthly Bank Reconciliation Statement Log

Authors: Elizabeth S.R.M. Cole

1st Edition

1541036824, 978-1541036826

More Books

Students also viewed these Accounting questions

Question

★★★★★

1. How does a multinational firm benefit from seeing the entire world as its labor pool? Do you see any potential problem with this vision? Why or why not? 2. How does this case illustrate the...

Answered: 1 week ago

Question

★★★★★

Resize the following 6 * 6 image f (n,m) to a 4 * 4 image. f(n,m) = 1 2 4 421 302 2 43 2 3 10 6 064 224322 5 3 2 103 20056 4 3 27 3

Answered: 1 week ago

Question

★★★★★

Let r(p) be the reliability function. Show that r(p) = pir(1i, p) + (1 pi)r(0i, p)

Answered: 1 week ago

Question

★★★★★

Boulder, Inc., obtained 90 percent of Rock Corporation on January 1, 2016. Annual amortization of $22,000 is applicable on the allocations of Rock's acquisition-date business fair value. On January...

Answered: 1 week ago

Question

★★★★★

When will the LOC & G / S pointers & scales display & when will the fill in solid?

Answered: 1 week ago

Question

★★★★★

Following is the balance sheet of Perez Company for Year 3: PEREZ COMPANY Balance sheet Assets Cash Marketable securities Accounts receivable Inventory Property and equipment Accumulated depreciation...

Answered: 1 week ago

Question

★★★★★

An ABDE metal pipe is kept in balance by a DF cable as well as by two ball joints in A and E. A load of 800N (vertical) is applied in C. a) What is the moment of force associated with the load of 800...

Answered: 1 week ago

Question

★★★★★

Q1. Gourmet has PKR150 million in sales revenue with PKR90 million in cost of goods sold. It has selling and administrative expenses of PKR10, pays annual taxes in the amount of PKR10 and has...

Answered: 1 week ago

Question

★★★★★

Imagine you head a large agency such as the Department of Education (DoE). Based on your experience with the CITI certification process and your class readings, outline a protocol for approving...

Answered: 1 week ago

Question

★★★★★

Using the P-O-L-C Framework, answer the following questios: 600 wrds.. Take one item from each section that you could relate to you and discuss how you could use in your life right now.and write the...

Answered: 1 week ago

Question

★★★★★

Fig. H 4.39 Determine the forces bars 1, 2 and 3 of the plane truss loaded and supported (Ans. S S2 S3=-30 a/2h) as shown in Fig. I. = C aaaaaa B aga Fig. 1 Q

Answered: 1 week ago

Question

★★★★★

=+3. What are the components of a social media communication audit?

Answered: 1 week ago

Question

★★★★★

=+4. Identify the five concepts of a SWOT analysis. Where do strategic implications come into play for a social media campaign?

Answered: 1 week ago

Question

★★★★★

=+1. Why is a strategic plan important for social media? Identify three reasons why a strategic plan is necessary for a social media campaign.

Answered: 1 week ago

Previous Question Next Question