Compute amount of coaches and carriages net income

Assignment Help Accounting Basics

Reference no: EM13159958

The following amounts are available from the records of Coaches and Carriages Inc. at the end of the years indicated:
December 31 Total Assets Total Liabilities
2008 $25,000 $12,000
2009 79,000 67,000
2010 184,000 137,000
1. Compute the changes in Coaches and Carriages' owners' equity during 2009 and 2010.
2009 change in owners' equity $
2010 change in owners' equity $

2. Compute the amount of Coaches and Carriages' net income (or loss) for 2009 assuming that no dividends were paid and the owners made no additional contributions during the year.

Reference no: EM13159958

Questions Cloud

Identify the oh proton in the nmr spectrum : An unknown is believed to be an alcohol because the IR spectrum showed broad absorption at 3200-3500 cm-1 and no absorption in the 1700-1750 cm-1 region.

Average investment in inventory : Assuming a 360-day year, calculate what the average investment in inventory would be for a firm, given the following information in each case.

What is the new profit maximizing output level : What is the new profit maximizing output level and how many workers are hired at this level

Compare and contrast the classical and balanced : Compare and contrast the"Classical" and "Balanced" schools ofthought on the subject of genetic variation in natural populations. How would theresearch programs of the two schools have influenced their perceptions about the amountof genetic variati..

Compute amount of coaches and carriages net income : Compute the amount of Coaches and Carriages' net income (or loss) for 2009 assuming that no dividends were paid and the owners made no additional contributions during the year.

How much h2o is needed : Acetylene gas (C2H2) is produced as a result of the reaction CaC2+2H2O-->C2H2+Ca(OH)2 If 16g of CaC2 are consumed in this reaction, how much H2O is needed? answer in units of mol.

Importance of solid ground rules for team-meetings : Evaluate the importance of solid ground rules for team-meetings. Relate your discussion to both physical teams and virtual teams.

What mass of water forms from hydrogen gas : What mass of water (in grams) forms from the reaction of 2.49 L of hydrogen gas and 1.92 L of oxygen gas? Both gases are at 738 torr and 27.3 oC

Problem related to interest rate risk : Two years ago your corporate treasurer purchased for the firm a 20-year bond at its par value of $1,000. The coupon rate on this security is 8 percent. Interest payments are made to bondholders once a year.

User Account

All Pages