What amount of owner drawings were made during the month

Assignment Help Accounting Basics
Reference no: EM133074845

Question - At October 1, Bennington Enterprises reported owner's equity of $35,000. During October, the owner made additional investments of $5,000 and the company posted a net loss of $3,000. If owner's equity at October 31 totals $35,000, what amount of owner drawings were made during the month?

At October 1, Bennington Enterprises reported owner's equity of $35,000. During October, the owner made additional investments of $2,000 and the company earned net income of $6,000. If owner's equity at October 31 totals $40,000, what amount of owner drawings were made during the month?

At October 1, Bennington Enterprises reported owner's equity of $35,000. During October, no additional investments were made and the company earned net income of $4,000. If owner's equity at October 31 totals $32,000, what amount of owner drawings were made during the month?

Reference no: EM133074845

Questions Cloud

What adjusting entry will tanning company make : What adjusting entry will Tanning Company make if Allowance for Doubtful Accounts has a credit balance of $2,500 before adjustment
Political economy of central banking : Discuss some arguments of those who oppose Central Bank Regarding Declaration of Independance: The Political Economy of Central Banking
Estimate the new price of the bond : The face value of the bond is £1000. Use the modified duration of the bond to estimate the new price of the bond.
What is the eurobond market : Read the case provided and use the Excel file to review pertinent data from the case. Answer the questions below and submit this Word document.
What amount of owner drawings were made during the month : If owner's equity at October 31 totals $40,000, what amount of owner drawings were made during the month
Distribute a case study instruction : Distribute a case study instructions document and accompanying data file to each group
Distinction between competitive and precompetitive : What is your understanding of Nike's distinction between competitive and precompetitive?
Calculate the cash flows generated : Consider a T-bill maturing on 4/15/22 trading at the Bank Discount Rate yBDR = 1.07% for settlement on 10/15/21. Assume a face value of M = 100,000.
Health care teams to exist and coexist without conflict : Given conflicting and diverse interests, how is it plausible for health care teams to exist and coexist without conflict? Explain.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Identify at least eight types of short-term investments

Access the July 30, 2009, 10-K filing (for year-end June 30, 2009) of Microsoft (MSFT) at www.sec.gov. Review its note 4, "Investments."

  What is the accruals total reported for this period

For this year, JJ Company has 20,000 net earnings on income statement and 7,000 net cash inflow from operating activities, What is the accruals total reported

  How can understanding the customer payment system

What are the processes involved and where and how it happened. How can you assist him in understanding the customer payment system?

  Compute the quick or acid-test ratio

Jordan Company provided the following information. Compute the current ratio. Compute the quick (acid-test) ratio.

  Find what company report as additional paid-in capital

Subsequently, What should the company report as additional paid-in capital in the stockholders' equity section of its balance sheet ?

  The capital asset pricing model is a financial model that

the capital asset pricing model is a financial model that assumes returns on a portfolio are normally distributed.

  Describe risks the control is designed to mitigate

Identify the related transaction-related audit objective(s) affected by the control. Describe risks the control is designed to mitigate

  Determine the value of the holding after the bonus issue

If the shares are currently trading for $4.12, determine the value of the holding after the bonus issue

  What is the difference between cost-effectiveness analysis

What is the difference between cost-effectiveness analysis and cost-benefit analysis? How may each analysis address a budgetary problem

  Determine the single plantwide factory overhead rate

The total factory overhead for the company is budgeted at $600,000 for the year. Determine the single plantwide factory overhead rate

  Using a present value table your calculator or a computer

Congratulations! You have just won $500 million in the largest Power ball jackpot payoff ever! You will receive payments of $25,000,000 per year for the next 20 years.

  Do all companies close their books on december 31

Do all companies close their books on December 31? Why or why not?

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!

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