Question

What account impacts the equity of a business?

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Accounting

Related Accounting Q&A

Find answers to questions asked by students like you.

Q: With the following questions, why is 'n' value backwards? #1: Wiseman Video plans to make four annua...

A: Annual Deposit: Annual deposit refers to the amount deposited annually in a fund or for a specific p...

Q: Problem 25-2A Analysis and computation of payback period, accounting rate of return, and net present...

A: 1. Compute the payback period:

Q: The pretax financial income (or loss) figures for Martinez Company are as follows. 2012   $148,00...

A: Income tax expense:  Income tax expense is an expense for the company which is equal to a certain pe...

Q: Q: Which situation is better for the debt financing of a subsidiary? A. 16% income tax, 10% withhold...

A: AssumptionsLet us understand the best situation for the parent company in Debt financing to its subs...

Q: Why is it necessary to prepare formal financial statements if all the data are in the statement colu...

A: Worksheet is an accounting  tool used by the business  which is used for balancing and closing the b...

Q: GIFFCO contracted with the investment bank X.M. Retzoff to issue 25 million of short-term paper. The...

A: When debt securities are issued at commission, the fees and commission are deducted from the net pro...

Q: Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan f...

A: Once the production units are computed, the raw material purchases in pounds are determined. The pur...

Q: On January 1, Innovative Solutions, Inc., issued $160,000 in bonds at face value. The bonds have a s...

A: Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from ...

Q: Gunflint adventures operate an airplane service that take fishing parties to a remote lake season la...

A: Determine the age of the airplane in months: 

Q: I attempted this problem and tried to do the company's statement of cost of goods manufactured for d...

A: Statement of cost of goods manufactured: It is a statement which reports the detailed cost breakup o...

Q: Comdex Inc. manufactures parts for the telecom industry. One of its products that currently sells fo...

A: Calculate the desire profit of Comdex Incorporation.

Q: Problem 9-3A Carla Vista Co. had the following assets on January 1, 2017. Item   Cost   Purchase...

A: Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income st...

Q: Under what situation will return on equity be higher than return on investment? a. When assets excee...

A: (a) When assets exceed liabilities:Suppose assets is $ 70,000 and liabilities is $ 50,000 and net in...

Q: The materials handling charge for ABC Corp. is $0.50 per pound of finished product. What is the mate...

A: Material handling charges: Material handling charges is the cost incurred in the storage, movement, ...

Q: The auditors of Steffey Ltd., decided to study the cash receipts and disbursements for the month of ...

A: The balances as per bank statement and as per general ledger can be reconciled by adding and subtrac...

Q: The September 30 bank statement for Cadieux Company and the September ledger account for cash are su...

A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from ...

Q: Tim and Kate attend St. Peter Roman Catholic Church were they contribute $75 each Sunday by check fo...

A: Generally , one can deduct contributions made by money or property to a qualified institution. A qui...

Q: Bateh Company produces hot sauce. The following information is provided concerning its standard cost...

A: The labor quantity variance helps in determining the areas of production process that used more labo...

Q: Ruiz Co. provides the following sales forecast for the next four months:    April   May   June   ...

A: Production budget: Production budget is the estimation or projection of number of units the company ...

Q: *Problem 11-2A (Part Level Submission)   The stockholders’ equity accounts of Cheyenne Corp. on ...

A: Calculating the value of dividends paid to common stockholder. We have,The value of dividend paid to...

Q: The Malaysian subsidiary of the PPC distributed and assembled electric motors. It also had limited m...

A: Computation of Investment:Initial Investment = Rs. 67.5 CrAdditional Investment = Rs. 30 Cr @ 10% p....

Q: abardeen corporation borrowed 58,000 from the bank on october 1, year 1.  The note had a 4 percent a...

A: Note payable: Note payable refers to the liability of the business, as business borrow money against...

Q: The stockholders’ equity section of Creighton Company’s balance sheet is shown as follows:   CREI...

A: a. Two items are appearing in the Equity section of the balance Sheet- Preferred stock and paid in c...

Q: Given below is an excerpt from a management performance report:   Budget Actual Difference...

A: Calculate Management performance of actuals: 

Q: Coca Cola acquired 70% of Pepsi on 1/1/14. During 2014, Coca Cola made many inventory sales to Pepsi...

A: Click to see the answer

Q: Page 1 of 2

A: Compute variable components of shipping expense: 

Q: Can you explain the solution below ? how did they calculate the sales revenue ? It doesn't make sens...

A: This budget can be understood in the following manner :

Q: Bonds payable—various issues On July 1, 2016, $12 million face amount of 7%, 10-year bonds were issu...

A: Bonds are the debt instruments which are issued by corporates against certain sum of money and carry...

Q: Nova Company's total overhead cost at various levels of activity are presented below Total Overhead ...

A: Variable cost vary with each unit of production. Fixed cost remain same irrespective of the level of...

Q: Which of the following statements is false? a. one of the disadvantages of incorporation is the prob...

A: Corporation:A business concern where there is a separate legal entity, and are owned by shareholders...

Q: Varto Company has 12,400 units of its sole product in inventory that it produced last year at a cost...

A: It is to be noted that the last of th inventory incurred last year is a sunk cost and not relevant f...

Q: The following expenditures relating to plant assets were made by Glenn Company during the first 2 mo...

A: Expenditures: The useful life of the plant assets signifies the time period, that the company estima...

Q: The net income of F.F.  Inc., amounted to $1,920.000 for the current year. a. Compute the amount of ...

A: Note: Given net income is “$1,920.000” but it is considered as “$1,920,000”. The reason is, if the n...

Q: Simko Company issued $630,000, 8-year, 6 percent bonds on January 1, 2018. The bonds were issued for...

A: Bonds are generally long-term debt. The company issue bonds for investment purpose and paid interest...

Q: Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a tradinginvestment for £13,2...

A: Journal entry to record the purchase of an investment will include a debit to investment account and...

Q: What is probably the greatest single reason conventional financial statements are inadequate for ana...

A: Generally Accepted Accounting Principles (GAAP): These are the guidelines necessary to create accoun...

Q: The following items appeared on the January 31 bank reconciliations for Corbett Company: Outstanding...

A: Bank Reconciliation Statement:Bank statement is prepared by bank. The company maintains its own reco...

Q: Outstanding checks of $12,000. Bank service charge of $15. Deposit in transit of $2,300. Interest ea...

A: (1) Outstanding checks of $ 12,000No journal entry is made to a company general ledger for outstandi...

Q: What is the definition of 'taxable income'?

A: Income: Income includes the income of an individual in the form of wages, salary, pension, etc. The ...

Q: What prevents you from deleting the record of the vendor list? This from quitbooks.

A: Quick books has  system of accounting control  where in all users do not have access to updating mas...

Q: Brief Exercise 14-9On January 1, 2017, Flounder Corporation redeemed $410,000 of bonds at 97. At the...

A: Calculate the amount of cash paid to redeem the bond.

Q: I need help solving this, thanks!

A: Break-even sales: Break-even sales is that level of sales at which there is no profit or no loss on ...

Q: Why do prices at theme parks in Orlando, Florida, remain high despite seasonal and economic cyclical...

A: Besides Walt Disney, there are several amusement parks in Florida.Amusement parks see a great footfa...

Q: History Bookmarks Window Help Sun 1:02 AM v2.cengagenow.com eBook Calculator Print Item Price-Earnin...

A: Dividend yield:Dividend yield ratio indicates how much percentage of share prices a company pays out...

Q: Flexible Budgets; Total Operating Income Variance; Breakdown of the Total Operating Income Variance;...

A: 1. Total operating income variance for July.

Q: Hello, Silverstone's production budget for July called for making 39,800 units of a single product. ...

A: Absorption costing: The absorption costing method is a costing method that allocates the direct prod...

Q: Describe the relationship between debit balances and credit balances when it comes to “t graphs”?

A: T-graph or T-accounts: T-account is the form of the ledger account, where the journal entries are po...

Q: Nash Corporation had net sales of $2,417,500 and interest revenue of $39,900 during 2017. Expenses f...

A: Multi-step income statement: The income statement represented in multi-steps with several subtotals,...

Q: During february, the activities of Evergreen Landscaping included the folowing transation and events...

A: Expenses means the cost incurred by the business to earn revenues. As per the matching principle of ...

Q: Ayayai Corp. has 4,200 shares of 8%, $100 par value preferred stock outstanding at December 31, 2017...

A: Dividend: Dividend refers to the payment made to the investor out of the profits earned by the busin...