The adjusted trial balance amounts at june 30

Assignment Help Accounting Basics
Reference no: EM131138829

Danks Co. was organized on April 1, 2010.The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.


(a) Determine the net income for the quarter April 1 to June 30.

(b) Determine the total assets and total liabilities at June 30, 2010 for Danks Company.

(c) Determine the amount that appears for John Danks, Capital at June 30,2010.

Reference no: EM131138829

Questions Cloud

Why astrology is not considered as science : Give two examples of reasoning method (one for Deductive and one for Inductive). Why Astrology is not considered as Science? Can the science explain all the natural phenomena occurring in the Universe
Prepare a cost of production report for howorth : What types of costs do you imagine would be included in factory overhead? If overhead is applied based on direct labor hours, what is the application rate? Prepare a cost of production report for Howorth.
Estimate the undrained shear strength under plane strain : The critical state friction angle of a soil is 30° and OCR = 20. Would this soil fail in tension if it were loaded in under plane strain condition? Show calculations to support your answer.
The customer experience for the segment is satisfactory : This week we will take a closer look at how companies can better understand how their marketing efforts perform by understanding how users behave when visiting their sites. When you are satisfied that your scenario represents behavior of one segment ..
The adjusted trial balance amounts at june 30 : Danks Co. was organized on April 1, 2010.The company prepares quarterly financial statements. The adjusted trial balance amounts at June 30 are shown below.
Is the forecast cost of these elements reasonable : What were your corporate objectives for your business for the coming financial year, starting 1/7/15? Identify 2 marketing objectives that you have for the year ahead and explain how they will contribute to your corporate strategic objectives.
How the movie the matrix relate to descartes quest : Do you agree with Descartes' epistemological view that some ideas are innate or with Locke's view that we are blank slates when we are born?
Managers willing to look at long-term for such strategies : Judging from the thoughts thus far you can imagine what the discussions would be IF we were in a large organization. Many perspective AND many approaches toward accomplishing the same thing. One aspect that I feel is important is the element of commi..
Jose is trying to prepare monthly financial statements : Jose Contreras is the new owner of Curveball Computer Services. At the end of July 2010, his first month of ownership, Jose is trying to prepare monthly financial statements.

Reviews

Write a Review

Accounting Basics Questions & Answers

  An employee earns 40 per hour and 15 times that rate for

an employee earns 40 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. assume that the

  Calculate cindys deduction for home office expenses b

cindy operates a computerized engineering drawing business from her home. cindy maintains a home office and properly

  Magpie corporation uses the total cost concept of product

magpie corporation uses the total cost concept of product pricing. below is cost information for the production and

  Perform the quantitative analysis of profitability and risk

Perform the quantitative analysis of profitability and risk ratios

  Should the nutty productions incorporation extend credit

Nutty Productions Inc. generated service revenue of $ 30,000 and income from operations of $ 10,000. The company estimates that, had it extended credit it would have instead generated $ 60,000 of service revenue, but it would have incurred $ 25,000 o..

  Corporate tax rate question

A machine that originally cost $25,000 and was depreciated on a straight line basis has one year of its expected 5-year life remaining. Its current value is $12,000. The corporate tax rate is 34%.

  Apply the theory of constraints to your own working

Apply the Theory of Constraints to your own working environment (past or present). Explain why your organization doesn't have unlimited resources (space, inventory, product line, etc)

  Amout included in the gross estate

Assume Mr. Cobb died after Mrs. Cobb and the land was worth $240,000 at this death. What amout was included in his gross estate?

  How does commercial paper differ from a bank loan

How does commercial paper differ from a bank loan? Why is the interest rate often less for commercial paper?

  The controller of olaf corporation wants to establish a

the controller of olaf corporation wants to establish a minimum rate of return and would like to use a weighted-average

  During its first year of operations rosa corp has these

during its first year of operations rosa corp has these transactions pertaining to its common stock.jan. 10 issued

  What is the retention ratio for 2013

Please refer to the selected financial information for Boss Stores above. What is the retention ratio for 2013?

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