How do you determine the dollar amount of owners’ equity for a sole proprietorship, or a partnership, or a corporation?

Q: I need help with question 4.show working out . incluse Journal entries and Owners Equity.

A: Journal Entries Sr. No. Particulars LF Debit ($) Credit ($) i Land   390,000          Common ...

Q: . If the corporation when formed sets a par value for its shares low and issue common   stock for a ...

A: Par:- Par is a term that is used for face value of the share. When a company requires capital, it is...

Q: Average Rate of Return Determine the average rate of return for a project that is estimated to yield...

A: It is also known by the name of the accounting rate of return. We can evaluate by dividing average n...

Q: Liam Wallace is general manager of Worldwide Salons. During 2018Wallace worked for the company all 1...

A: FICA Tax is a combination of social security tax and the medicare taxes. Social security taxes has a...

Q: Standard Direct Materials Cost per Unit Roanoke Company produces chocolate bars. The primary materia...

A: Standard direct material cost per bar = Total cost / Number of bars 

Q: 1. GASB 87 provides a new framework for accounting for leases under the principle that leases are fi...

A: Hi, Thank you for the question. As per the honor code, we will answer the first question. Please sub...

Q: Karen and Yanique are opening a jewellery store with no competition in the area from which they inte...

A: Since you have asked multiple questions, we will solve the one question for you. If you want any spe...

Q: ...And does the current ratio improves, deteriorate, or hold steady during 2018?

A: Current Ratio=Current AssetsCurrent Liabilities   Answer 1: 2017: Current Ratio=26,30013,000=2.02:1 ...

Q: ohn Smith, age 31, is single and has no dependents. At the beginning of 2014, Johnstarted his own ex...

A: Deduction: A deduction is an expense that can be subtracted from an individual or married couple's g...

Q: Schedule of Cash Collections of Accounts Receivable OfficeMart Inc. has "cash and carry" customers a...

A: A cash sale is a sale where the consideration(money) is received immediately for the goods sold or s...

Q: The following materials standards have been established for a particular product: Standard quantity ...

A: Given that            standard price : $ 14.20            standard quantity per unit of output : 5.4...

Q: Equinox Outdoor Wear issues 1,000 shares of its $0.01 par value preferred stock for cash at $31 per ...

A: Additional paid in capital in excess of par = (Issue value per share - Par value per share) x No. of...

Q: Scenario Mirabel Manufacturing is a small but growing company that manufactures and sells marine son...

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If y...

Q: The Searider Company uses a job-order costing system. The following transactions occurred inApril:a....

A: Job costing: It is a method of costing where in all the costs like direct material, direct labor and...

Q: What is the total amount of service cost that should be allocated to the Printing department under t...

A: Joint cost can be referred to as the cost which is incurred for supporting more then one product or ...

Q: Instructions: Classify the accounts listed bellows as permanent or temporary, and indicate whether o...

A: Temporary Accounts are those account which closed in every accounting period. Like Rent Expense , Se...

Q: Suppose optimum garde declares cash dividends of $675000 for 2018. How much of the dividends goes to...

A: The following calculations are recorded in the records of Optimum Garde to show the computation of d...

Q: Question Topic– Analysing business transactions. The following table contains several business trans...

A: Basic elements of financial statements are 1. Assets 2. Liabilities 3. Owner's Equity 4. Revenue 5. ...

Q: NewTech purchases computer equipment for $263,000 to use in operating activities for the next four y...

A: Depreciation is a reduction in the value of assets due to the usage of that asset. We can evaluate t...

Q: E8-1A Credit Losses Based on Credit Sales Lewis Company uses the allowance method for recording its ...

A: Credit losses for the year = Credit sales x 2% = $900,000 x 2% = $18,000

Q: At the end of the year, Bertha Enterprises estimates the uncollectible accounts expense to be 0.7 pe...

A: Uncollectible accounts expense = Net sales x 0.7% =$15150000*0.7% = $106,050

Q: Amortization Schedule - Bonds Wang Corporation issued $100,000 5 year bonds January 1, 2020. The bon...

A: Bonds payable: It is a long term liability to the organization issuing it. It is issued to raise deb...

Q: Question Make a transaction for each of the following general journal. Bank Cash 10000 10000 Account...

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of journ...

Q: Darius Manufacturing Company manufactures and sells parts for various musical gadgets. The business ...

A: Margin of safety sales is the profit over and above break even point sales and generates profit. Bre...

Q: The following information was taken from the books of Newcastle Enterprises. Balances in the general...

A: Profit & Loss appropriation account is prepared to distribute the profit or to transfer interest...

Q: XYZ Equipment In. receives order from Shiraz Consultant Clinic on 15th August. The company started i...

A: Job costing is one of the methods of costing approach where different costs are identified. accumula...

Q: Factory Overhead Volume Variance Dvorak Company produced 2,400 units of product that required 5.5 st...

A: Fixed overhead volume variance = Absorbed fixed overhead - Budgeted fixed overhead   Absorbed fixed ...

Q: . Assume one year later (2019) the company KY Jeweller’s Ltd has been formed and the owners are desi...

A: Introduction Journal entries: Journal entries for issue of common stock in consideration of land, pr...

Q: A taxpayer must always include his or her state income tax refund in income. True or False

A: Income tax:-  Income tax  means whenever an assessee, in a financial year earns certain income which...

Q: Plane CC was registered on 1 August 2015. The founding statement of the Close Corporation (CC)sets o...

A: Appropriation account:-  In business, certain amounts in the profits are set aside for specific purp...

Q: What is financial reporting and why it is important for business organisation?

A: Financial Reporting:   Financial reporting is the financial results of an organization that are rele...

Q: Lamar Corporation purchased land for $150,000. Later in the year, the company sold land with a book ...

A: Gain on sale of land = Sale value of land - Book value = $200,000 - $190,000 = $10,000

Q: The company's chater authorizes 1,000,000 shares of common stock and 100,000 shares of preferred sto...

A: A & B :

Q: The following selected data were taken from the books of the Owens O-Rings Company. The company uses...

A: Job costing: It is a method of costing where in all the costs like direct material, direct labor and...

Q: Journalize the adjusting entries and post to the general ledger - Adjusting entries: 1. Expired ins...

A: Adjusting entries are end of the period adjustments to reconcile the expenses of the period to the r...

Q: The budgeted prices for materials and direct labor per unit of finished product are $8 and $7, respe...

A: Particulars Static Budget Actual Cost Variance Direct Materials 59200 49900 9300(F) Direct Labor...

Q: What are the flaws in William's analysis? Should production be outsourced? Support your answer with ...

A: Particulars In-house production Outsourcing Units produced 20,00,000 20,00,000 Direct cost 47,00...

Q: name the account to be debited and the name of the account to be credited for each transaction. *

A: Following is the answer of requisite problem     

Q: Logan Products computes its predetermined overhead rate annually on the basis of direct labor hours....

A: Predetermined overhead rate = Estimated total overhead / Estimated total direct labor hours Applied ...

Q: a) After an excitingly attractive swearing-in ceremony, you are elected the chair of the audit commi...

A: Audit: It is the act of examining and inspecting books of accounts to ascertain the authenticity and...

Q: Amar trading Company issued 10,000 equity shares of Rs.10 each at a premium of Rs.2 per share. The a...

A: The organization can raise funds for the operation song integrity by issuing common stock, preferred...

Q: Karen and Yanique are opening a jewellery store with no competition in the area from which they inte...

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any spec...

Q: Determine Cash Flows Natural Foods Inc. is planning to invest in new manufacturing equipment to make...

A: Depreciation is a non cash expense and does not involve any cash outflow. Hence, fixed factory overh...

Q: Indicate whether the following sentences are true or false: (T/F)   4. Research can either be applie...

A: In any question wherein we are required to comment on True or False, we should first get into the co...

Q: Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive ...

A: Dividend is paid on Outstanding number of shares and Outstanding number of shares does not include T...

Q: quisitions Problem 23-5 (IAA) 1. Nutty Company made the following individual cash purchases: ,000,00...

A: Every business records its transactions for having accurate accounting results.