1 answer

Q3)B AND C>>>...ASAP Assocat 720,000 Liabilitas = 480,000 240,ooo 3. Carla's Computer Repair Shop started the...

Question:

Assocat 720,000 Liabilitas = 480,000 240,ooo 3. Carlas Computer Repair Shop started the year with total assets of $720,000 a Q3)B AND C>>>...ASAP

Assocat 720,000 Liabilitas = 480,000 240,ooo 3. Carla's Computer Repair Shop started the year with total assets of $720,000 and total Tiabilities of $480.000. During the year, the business recorded $1.200,000 in computer repair revenues. $680,000 in expenses, and the company paid dividends of $120,000 (Show your work) a) Equity at the end of the year was 1200,000 -(680,000+ 120,000 (40o,ooo) b) The net income reported by Carla's Computer Repair Shop for the year was Revenue - expenses 1,200,000 -68,000 + 520,000 c) Total equity changed by what amount from the beginning of the year to the end of the year? of increase use to (400,000) = 160,000 increasing. Problem 1 (4 Points) Use the following information from XYZ Company to calculate total liabilities on Dec 31, 2018 (Show your work) Assets = 171,900 Total Assets $171,900 on Dec 31, 2018 Share Capital $10,000 on Dec 31, 2018 Revenues $ 16,400 in 2018 Expenses $12,300 in 2018 Dividends $1500 declared and paid in 2018 Retained earnings $9.350 on Jan 1, 2018 equity - (10,000 thenya +9,350 +16,400) - ( 12, 300 + 1500 Equity = 21,950 171,900= L + 21,950 (L=149, 950

Answers

Please hit LIKE button if this helped. For any further explanation, please put your query in comment, will get back to you.
Part a
Equity at the start of the year $       240,000
$720,000-$480,000
Add: Net Income ($1,200,000-$680,000) $     520,000
Less: Dividend $   (120,000)
Net Changes in equity $       400,000
Equity at the end of the year $       640,000
Part b
Revenue $   1,200,000
less; Expense $     (680,000)
Net Income $       520,000
Part c
Net Income ($1,200,000-$680,000) $     520,000
Dividend $   (120,000)
Net Increase in equity $     400,000
.

Similar Solved Questions

1 answer
50 Experiment 7 Types of Chemical Reactions QUESTIONS POST LAB 1. In experiment #3, the manganese...
50 Experiment 7 Types of Chemical Reactions QUESTIONS POST LAB 1. In experiment #3, the manganese dioxide (Mno,) was added to the test tube containing hydrogen peroxide (H,02) in order to speed up the reaction. What is the name given to a chemical that is added to a reaction in order to increase its...
1 answer
-OCH :0-CHg + .OCHs CH,OH
-OCH :0-CHg + .OCHs CH,OH...
1 answer
You have just purchased a home and taken out a $460,000 mortgage. The mortgage has a 30-year term with monthly payments and an APR of 5.20%. a. How much will you pay in interest, and how much will you pay in principal, during the first year? b. How mu
You have just purchased a home and taken out a $460,000 mortgage. The mortgage has a 30-year term with monthly payments and an APR of 5.20%.a. How much will you pay in interest, and how much will you pay in principal, during the first year?b. How much will you pay in interest, an...
1 answer
How do I set this up in a table in excel? 3-51 Mona Persian is considering...
How do I set this up in a table in excel? 3-51 Mona Persian is considering a new investment fund with a semiannual interest rate of 2.5%. Any money she invests would have to be left in it for at least five years if she wanted to withdraw it without a penalty. (a) What is the nominal interest rate? (...
1 answer
Ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company...
ng Depreciation Use the following information to answer Questions 46-50: On April 1, 2016, a company that uses a calendar year purchases equipment with an acquisition cost of $85,000 that it estimates will produce 800,000 units over its 8-year life and have a residual value of $6,000 You are depreci...
1 answer
You have prepared some plasmid DNA in lab and need to know its concentration so you...
You have prepared some plasmid DNA in lab and need to know its concentration so you can load 1 ug on a gel. You dilute 1 uL with 99 uL of water and the resulting sample has an absorbance of 0.075. What volume of the original sample do you need to load onto the gel? (Show math for partial credit and ...
1 answer
Exercise 3-3 (Video) The edge of American company has the following work in process cont. 3.790...
Exercise 3-3 (Video) The edge of American company has the following work in process cont. 3.790 W31 Transferred out Orhand 531 Balang Production records show that there were 600 units in the beginning inventory, 30% complete, 1,700 units Marted, and 1.500 units transferred out. The beginning work in...
1 answer
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 12,000...
Exercise 08-3 Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following. Fixed Budget $ 2,448,000 $276,000 516,000 324,000 76,000 1,192,000 1,256,000 Sales (12,000 units X $204 per unit) Cost of goods sold Direct ma...
1 answer
Stockman Corp purchased ten $1,000 6% bonds of Power Source Corporation when the market rate of...
Stockman Corp purchased ten $1,000 6% bonds of Power Source Corporation when the market rate of interest was 12%. Interest is paid semiannually, and the bonds will mature in seven years. Using the PV function in Excel, compute the price Stockman paid (the present value) for the bond investment. (Ass...
1 answer
Required Information Preparing an income Statement, Statement of Retained Earnings, and Balance Sheet and interpreting the...
Required Information Preparing an income Statement, Statement of Retained Earnings, and Balance Sheet and interpreting the Financial Statements [LO 1-2. LO 1-3] The following information applies to the questions pleed below Assume you are the president of High Power Corporation the end of the first ...
1 answer
Depth of bore edge condition Above target Below target coarse 15 10 moderate 21 24 smooth...
Depth of bore edge condition Above target Below target coarse 15 10 moderate 21 24 smooth 49 81 The data from 200 machined parts are summarized as follows: (a) What is the probability that a part selected has a moderate edge condition and a below-target bore depth? Round your answer to tw...
1 answer
Please help asap please Mill rding to a report published by the Pew Research Center in...
Please help asap please Mill rding to a report published by the Pew Research Center in February 2010, 61% of winlennials (Americans in their teens and 20s) think that their generation has a unique a o distinctive identity (N-527). 0,61% of que and 12 who genera- believe that their generation has a ...
1 answer
Special Relativity
Two events occur in an inertial system O as followsEvent 1: x1 = a, y1 = 0, z1 = 0, t1 = 2a/cEvent 2:x2 = a, y2 = 0, z2 = 0,t2 = 3a/2cWhere 'c' is the speed of light and 'a' is a positive constant. In what inertial frame O' will these two events appear to occur at the same time? ...
1 answer
Balance the following equations: H2(g) + N2(g) NH
Balance the following equations: H2(g) + N2(g) NH...
1 answer
B3. An octahedral transition metal complex with the structure shown below was isolated from the reaction...
B3. An octahedral transition metal complex with the structure shown below was isolated from the reaction of CoCl2.6H20 and one equivalent of the organic ligand diethylenetriamine, H2NCH2CH2NHCH2CH2NH2, after oxidation with air and addition of Naci. I-Z H2N,,, NH2 com CICI a) Draw the structure for a...
1 answer
Dawson Company manufactures small table lamps and desk lamps. The following shows the activities per product...
Dawson Company manufactures small table lamps and desk lamps. The following shows the activities per product and the total overhead information: Units Setups Inspections Assembly (din) Small table lamps 3,600 3,100 9,750 44,800 Desk lamps 7,800 6,200 16,250 44,800 Total Activity Base Usage Activity ...
1 answer
Required information [The following information applies to the questions displayed below.) The December 31, Year 1,...
Required information [The following information applies to the questions displayed below.) The December 31, Year 1, adjusted trial balance for a company is presented below. Credit Debit $ 10,700 137,000 4,700 23,500 270,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulate...