Solution-What was the profit for the year ended December

What was the profit for the year ended December

Assignment Help Accounting Basics

Reference no: EM132514296

Question - For the year ended 31 December 2018, Sim's net assets increased by $1210. The following transactions took place during 2018.

1. Payments out of Sim's personal bank account: rent for business office $3600, rent for personal residence $2000.

2. Drawing of goods: with a cost $6200 and sales value $7700.

3. Drawing of cash: $9750.

What was the profit for the year ended 31 December 2018?

Reference no: EM132514296

Questions Cloud

Important reasons other than electronic health records : What are some important reasons other than Electronic Health Records to have a consistent coding system?

Prepare a cash budget for the quarter ending september : Prepare a cash budget for the quarter ending September 30, 2019. A cash balance of $36,000 is planned for July 1. Accounts receivable are expected

Organization developing a web site : Write a brief (at least 300 words) scenario based on the work you have completed so far in this course. For instance, you might write about an organization

What are some of the personal and professional obstacles : What are some of the personal and professional obstacles an officer faces with regard to seeking counseling? How might the fact that the officer

What was the profit for the year ended December : Payments out of Sim's personal bank account: rent for business office $3600, rent for personal residence $2000. What was the profit for the year ended December

Trace the development of sacred architecture : Trace the development of sacred architecture during the early medieval period, from its origins in the Byzantine style to the high Romanesque style.

Find what net present value of the project at discount rate : What is the net present value of the project at a discount rate of 10%? Should the project be accepted? working capital fully released at end of the six years.

Question - Inventories and Cost of Goods Sold : Question - Inventories and Cost of Goods Sold. Which method do you recommend so that Hogwarts pays the least amount of taxes during2019? Explain your answer

Burt bees documentary : What are 3 keys takeaways for you from this documentary as it relates to strategy in business? What impact did the "Why" have in Burts business

User Account

All Pages

What was the profit for the year ended December

Reference no: EM132514296

Reference no: EM132514296

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT