Question
Presented below is selected information related to for Hippo Company to prepare Owner's Equity statement for 2020. Supplies $ 5,000 , revenues $ 25,000 Salaries
Presented below is selected information related to for Hippo Company to prepare Owner's Equity statement for 2020. Supplies $ 5,000 , revenues $ 25,000 Salaries and Wages expenses $ 28,000 Cash $ 23,000 . Drawings $ 900 Accounts receivable $ 3,000 , capital on January 1 $ 7,800 , Investment $ 8,000 . Determine the owner's equity on December 31 , 2020
A. Owner's Capital on December 31,2020=\$17,900 B. Owner's Capital on December 31,2020=\$11,900 C. Owner's Capital on December 31,2020=\$11,900 D. Owner's Capital on December 31,2020=\$119,00
esented below is selected information related to for Hippo Company to prepare Owner's Equity statement for 2020. Supplies $ 5.000, revenues $25,000, Salaries and Wages expenses $28,000. Cash $23,000, Drawings $900, counts receivable $3,000, capital on January 1 57,800, Investment $8,000. Determine the owner's equity on December 31, 2020 A. Owner's Capital on December 31, 2020 = $17.900 B. Owner's Capital on December 31, 2020 = $11,900 C. Owner's Capital on December 31, 2020 = $11.900 D. Owner's Capital on December 31, 2020 = $119,00
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
Construction Contractors AICPA Audit And Accounting Guide
Authors: American Institute Of CPAs
1st Edition
0870519751, 978-0870519758
