What was the net income for the year

Assignment Help Accounting Basics
Reference no: EM13665208

A business had total liabilities of $60,000 at the beginning of the year and $45,000 at year-end. At year-end, net assets were $80,000 and total assets were $25,000 greater than at the beginning of the year. If capital contributed exceeded capital withdrawn by $18,000, what was the net income for the year?

Reference no: EM13665208

Questions Cloud

Analyse competition in the industry : Analyse competition in the industry. Do so on the basis the industry's structural features of the industry - Outline Porter five forces of that industry
Dividend growth model : Dividend Growth Model
What are the relevant labor markets : What are the relevant labor markets and what are the pros and cons of internal versus external recruitment and how and when might it be appropriate to use technology to recruit for this position?
Find the current in the secondary winding : A 15kVA has a turns ratio 1:10. If the voltage applied is 13.8kV and the applied load is 20+j6. Find the current in the secondary winding and the active and reactive power consumed by the load
What was the net income for the year : What was the net income for the year
Identifying and explaining your insights : Analyse a set of data, and write a brief report, identifying and explaining your insights into the operation of "The FedFone - total income for the three month period, sub-totalled by each (a) Shop, (b) Sales Representative, and (c) Phone. Use Pivo..
How would you design authorities of a project manager : What caused the conflict between the project managers and the other employees and how would you design the authorities of a project manager at BEC?
What is change in the trucks kinetic energy : A 2600 kg truck traveling north at38 km/h turns east and accelerates to 50 km/h.? What is the change in the truck's kinetic energy? What is the magnitude of the change in the linear momentum of the truck?
Broglie wavelength equals the compton wavelength : An electron is moving such that its de Broglie wavelength equals the Compton wavelength. How fast is it moving, expressed as a fraction of the speed of light c?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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