What amount will be posted to bessie cool

Assignment Help Accounting Basics
Reference no: EM132818401

Problem 1: Given the following accounts and their adjusted balances before closing entries are posted, what amount will be posted to Bessie Cool, Capital in the process of closing the income Summary account? assume all accounts have normal balances

Bessie Cool Capital $7000
Bessie cool withdrawals $9600
Revenue $30500
Rent Expense 3600
Salaries Expense $7200
Insurance expense 920
Depreciation expense equipment 500
Acumulated depreciation equip $1500

Reference no: EM132818401

Questions Cloud

Explain the digestive system differences : Wild horses need to spend more time eating, in the open, exposed to potential predators, than a deer, which can spend much of its day hiding from predators
Method of immunohistochemistry and immunofluorescence : 1. Describe the method of immunohistochemistry and immunofluorescence. 2. How do we visualize axons, dendrites and synapses in neurons?
What was the average issue price of ordinary shares : What was the average issue price of ordinary shares assuming that the subscribed ordinary shares are subscribed at stated value?
Describe some differences between the cerebrum : Name some similarities between the Human Brain and the Sheep Brain. Write some differences between the Human Brain and the Sheep Brain.
What amount will be posted to bessie cool : What amount will be posted to Bessie Cool, Capital in the process of closing the income Summary account? assume all accounts have normal balances
Design an experiment to test the role of thyroxine : It has been claimed that thyroxine is a hormone produced when the body is exposed to cold temperatures. Thyroxine is purported to stimulate an increase in the b
Why do cells need to regulate cell division : How are cyclin and kinase related to and different from one another? Why do cells need to regulate cell division?
What the size of the order would need to be : Alpha plumbing has received a special one, If Alpha wishes to increase it profit by $1250 through the special order, the size of the order would need to be WHAT
Developmental manipulation of the host plant : Analyze and Create: Hypothesize the mechanism by which the outcrossing (or transfer of spermatia from one individual to another) occurs based on the development

Reviews

Write a Review

Accounting Basics Questions & Answers

  What are the ramifications of such an accounting arrangement

What are the ramifications of such an accounting arrangement? What are the effects on the entity's financial statements

  Gross profit for a merchandiser

Emblems For You sells specialty sweatshirts. The purchase price is $10 per unit plus 10% tax and a shipping cost of 50¢ per unit. When the units arrive, they must be labeled, at an additional cost of 75¢ per unit. Emblems purchased, received, and ..

  Prepare sales revenues section of income statement

Sales on credit 280,000, cash sales 100,000, sales discount 13,000, sales return and allowances 11,000. Prepare the sales revenues section of the income statement based on this information.

  How much long-term debt is outstanding

It has total shareholders' equity of $2.5 million and current liabilities of $750,000. How much long-term debt is outstanding

  Prepare the lower portion of the income statement

Prepare the lower portion of the 2013 income statement beginning with pretax income from continuing operations. Ignore EPS disclosures

  Record the 2013 events in general journal form and post them

What is the net realizable value of the accounts receivable at December 31, 2013?

  What amount of inventory should be reported in december

Information on CC Co.'s December 31, 2020 inventory, What amount of inventory should be reported in December 31, 2020 balance sheet?

  Describe loss would be reported on the income statement

Describe how the gain or loss would be reported on the income statement and in the notes to the financial statements

  Which change model you would follow for short-term change

MGT 435- In 3 - 5 pages, explain which change model you would follow for the short-term change and which you would follow for the long-term change.

  Using the effective listening guidelines in the text

Using the effective listening guidelines in the text, make three suggestions that would allow Alan to fulfill his responsibility to provide employees with critical feedback about performance and to establish a supportive climate?

  You are the plant manager for icl inc a manufacturer of

you are the plant manager for icl inc. a manufacturer of auto parts. a growing market for your firm is automakers who

  Analyze the transactions

Analyze the transactions and indicate whether each transaction resulted in a cash flow from operating activities, investing activities, financing activities

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