User Account

All Pages

Calculate jacob equity in his business

Assignment Help Accounting Basics
Reference no: EM133184077

Question - Jacob Nkono started a new business called Nkono's Trading on 1 June 2021.

Nkono's Trading uses the perpetual inventory system.

Jacob Nkono had the following funds available for the business, R100 000 in the business's bank account of which R50 000 was from his personal funds and R50 000 was from a bank loan obtained.

He entered into the following transactions during June 2021:

June 2- Purchased merchandise via EFT, R20 000

June 8- Purchased computer equipment on credit, R15 000

June 21- Withdraw R3 000 cash for the petty cash.

June 30- Paid R5 000 off the bank loan.

Required - Calculate Jacob's equity in his business on 30 June 2021 by showing the effect of all transactions on the accounting equation.

Reference no: EM133184077

Questions Cloud

How is the anderson company treated as payroll tax depositor : On August 31st, it incurred an additional tax liability of $53,000. How is the Anderson Company treated as a payroll tax depositor
Operation stage of life cycle assessment : Discuss the pollutants that are emitted during the operation stage of a life cycle assessment for a fossil fuel source
What will the company be willing to pay for this contract : The first payment will received six months from today. What will the company be willing to pay for this contract if it expects a 16% annual return on investment
Natural Hazards : Select a recent disaster and discuss how an emergency manager could have addressed the risk associated with the hazard(s) presented.
Calculate jacob equity in his business : Calculate Jacob's equity in his business on 30 June 2021 by showing the effect of all transactions on the accounting equation
Assets in the community : It is important to determine what assets in the community will be affected by a natural or manmade hazard.
Prepare the consolidation entries required for pigeon : All affiliates use the straight-line depreciation method. Prepare the consolidation entries required for Pigeon and subsidiary for 2014
Group or community powerlessness : Vulnerability is often recognized as an individual's, group's or community's powerlessness, dependence, and reduced capacity to act in their own best interests
How large must the annual payments : They expect their investment account to earn 8%. How large must the annual payments at t = 5, 6, and 7 be to cover Isabella's anticipated college costs

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd