User Account

All Pages

What net change in owner equity occurred

Assignment Help Financial Accounting
Reference no: EM133000637

The following account balances are for Carl Nicholson, Certified Public Accountant, as of April 30, 2016.

Cash $30,000

Accounts Receivable 12,000

Maintenance Expense 4,600

Advertising Expense 3,890

Fees Earned 26,800

Carl Nicholson, Capital, April 1 ?

Salaries Expense 13,000

Machinery 21,000

Accounts Payable 13,200

Carl Nicholson, Drawing 6,800

INSTRUCTIONS

Using the accounting equation form, determine the balance for Carl Nicholson, Capital, April 1, 2016. Prepare an income statement for the month of April, a statement of owner's equity, and a balance sheet as of April 30, 2016. List the expenses on the income statement in alphabetical order.

Problem 1: Analyze: What net change in owner's equity occurred during the month of April?

Reference no: EM133000637

Questions Cloud

Discuss the auditor responsibilities for subsequent events : Discuss the auditor's responsibilities for subsequent events of the contract for the year ended 31 December 2019
Determining the selling price for products : Which type of pricing (cost-plus or target costing) that you feel would be more accurate in determining the selling price for products as it relates
How do investors account for risk when determining an asset : How do investors account for risk when determining an asset's value? Tesla's stock price was up about 5% in Monday's trading after announcing.
Has abc ltd engaged in irresponsible lending : Assume that the NCCP Act apply to Sleepy's loan. Has ABC Ltd engaged in "irresponsible lending". Whether ABC Ltd has engaged in misleading and deceptive conduct
What net change in owner equity occurred : The account balances are for Carl Nicholson, Certified Public Accountant. What net change in owner's equity occurred during the month of April?
What is the value of a firm : A firm's weighted average cost of capital during the first five years is 15% and then drops to 9% beyond the fifth year. What is the value of a firm
What amount of total assets after transactions recorded : Maurice Dickey is a painting contractor who specializes in painting commercial. What is the amount of total assets after all transactions have been recorded?
What is the role of human resources : What is the role of human resources as a strategic change agent has increased over the years
Limitations of using a bar code scanner : Materials management is an essential function in any health care organization to control the ?ow of supplies.

Reviews

Write a Review

Financial Accounting Questions & Answers

  How many units of x and y must be produced

If the contribution margin is Php5.00 per unit of x and Php10,000 per unit of y, how many units of x and y must be produced to maximize profit?

  Elimination journal entries for consolidation

Elimination journal entries for consolidation at that date and calculation of non-controlling interest balance and consolidation worksheet

  How much would the operating income of division a increase

Materials used by Ford Company in producing Division A's product. How much would the operating income of Division A increase?

  What is the project NPV

Growth Enterprises believes its latest project, which will cost $99,000 to install, If the discount rate for this project is 10%, what is the project NPV

  Why was there a need to require companies to prepare

When we already have the income statement and balance sheet to tell us about the financial performance and financial health of a company, why was there a need to require companies to prepare a statement of cash flows?

  How much revenue will you have recorded

On October 1, a customer pays your company $800 for four months of services (October through January). How much revenue will you have recorded

  What book value of a share of common stock at december

Dividends on preferred stock are in arrears for 2007 and 2008. The book value of a share of common stock at December 31, 2008 should be

  Compute cash collections from customers for each month

Sandhill Industries expects credit sales for January, February, and March to be $203,400, $267,600, and $317,300, respectively.

  Create a chart of cash vs sales

Create a chart of cash vs. sales and add a linear trend line.  Is the cash balance a consistent percentage of sales?  Does the relationship fit your expectations?

  What the bond price for an investor who buys seventy units

make an annual coupon payment of ?70. The market interest rate for the bonds is 8.5%. The bond's price for an investor who buys 70 units is nearest to

  Describe the difference between reporting accounting changes

Describe the difference between reporting accounting changes, changes in estimates, and error corrections

  Elucidate amount that should doe recognize as compensation

If unexpected turnover in 2012 caused the company to estimate that 10% of the options would be forfeited, elucidate amount that should Doe recognize as compensation expense for 2012?

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