User Account

All Pages

What is the closing balance of Alex

Assignment Help Accounting Basics
Reference no: EM132695624

Question - If the ledger of Alex Car Services contains the following balances: Alex, Capital on 1 June $60,000; Alex, Drawing $8000; Service revenue $80,000; Salaries expense $15,000; and Depreciation expense $5,000, what is the closing balance of Alex, Capital on 30 June (after the closing off process)?

Reference no: EM132695624

Questions Cloud

What is the break-even point in sales dollars : Hugo Pty Ltd sells designer suits. If the sales price per suit is $600, what is the break-even point in sales dollars
Parametric statistics and nonparametric statistics : Discuss the difference between parametric statistics and nonparametric statistics. Discuss the advantages and disadvantages of nonparametric statistics.
What price reduction must be negotiated with the supplier : A supplier has offered to provide the tables for $150 each. What price reduction must be negotiated with the supplier to meet the expected cost
Significant impact on businesses and industries : We have viewed how Blockchain has made a significant impact on businesses and industries.
What is the closing balance of Alex : Alex, Capital on 1 June $60,000; Alex, Drawing $8000; Service revenue $80,000; Salaries expense $15,000; what is the closing balance of Alex, Capital on 30 June
Balance scorecards impact knowledge creation : Explain how balance scorecards impact knowledge creation, culture, and strategy. Why are these important concepts to understand within an organization?
Plot a relative frequency histogram for the data : Construct a cumulative frequency distribution and a cumulative relative frequency distribution for the data. Plot a relative frequency histogram for the data
Define predictive analytics and cloud bursting : Define predictive analytics and discuss how an IT manager might use such analytics. Define and describe cloud bursting.
What price reduction must be negotiated : The budgeted cost of the tables are expected to be 70 per cent of the target cost. What price reduction must be negotiated with the supplier to meet the cost

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the incomplete revelation hypothesis

What is the role of auditing relative to the usefulness of accounting information?

  Does managerial accounting have to follow gaap

Does managerial accounting have to follow GAAP. Explain why or why not

  What type of adjustment will kyle make to trial balance

What type of adjustment will Kyle make to his trial balance worksheet for $2,500 he was paid on October 12, for work that he will start on December 1?

  Compute break-even at each level

A new technique for estimating the probability of achieving target sales and profits will be discussed. This requires managers to estimate demand for the new product and assign probabilities. A range, rather than only one goal will be established.

  Which of the principles did the bookkeeper violate

Which of the principles did the bookkeeper violate? The bookkeeper of ABC Gym receives advanced membership payments from customers

  What is the bond price today

The Company issued a 20-year bond five years ago with a face value of $1,000. What is the bond's price today if the coupon rate on comparable new issues is 14%

  What is Julie net estate tax liability

Julie had a gross estate of $13 million when she died in 2019. Her funeral expenses were $26,000; What is her net estate tax liability

  Amount deducted for depreciation on tax return

Assuming a 30% tax rate, what amount was deducted for depreciation on the corporation's tax return for the current year?

  Income income dividend net amount

Entity Country Percent Activity Income Income Dividend Net amount

  Calculate bond interest expense for the first six months

The firm records amortization on each interest date. Calculate bond interest expense for the first six months using effective interest amortization

  What is the balance in the investment account

On January 2, 2012, Mason sold 10,000 shares for $150,000. What is the balance in the investment account after the sale of the 10,000 shares

  Prepare a statement of cash flows for sondergaard

Investments were sold at a loss (not extraordinary) of $7,000; no equipment was sold; Prepare a statement of cash flows for 2010 for Sondergaard Corporation

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