What would capital reported on statement of owner equity

Assignment Help Accounting Basics
Reference no: EM13503696

Hal Smith opened Smith's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books:

1. Smith invested $38,000 cash in the business.
2. Smith contributed $113,000 of equipment to the business.
3. The company paid $3,300 cash to rent office space for the month.
4. The company received $29,000 cash for repair services provided during March.
5. The company paid $7,500 for salaries for the month.
6. The company provided $4,300 of services to customers on account.
7. The company paid cash of $1,800 for monthly utilities.
8. The company received $4,400 cash in advance of providing repair services to a customer.
9. Smith withdrew $6,300 for his personal use from the company.

Based on this information, the balance in Hal Smith, Capital reported on the Statement of Owner's Equity at the end of March would be?

 

Reference no: EM13503696

Questions Cloud

How to access the company annual report for 2013 : BUACC5930 Accounting Concepts and Practices. You are an accountant at WestGroupAccountants&Investment Advisers. You have been approached by a group of investorsfor your professional advice on investing in Harvey Norman Holdings Limited.
Advise polaris ltd - consolitiated financial statement : Advise Polaris Ltd whether it is required In pnxitze consolitiated financial .lawinciti% (CF31. Consider the levels of control and the iuentbers' rights in vow answer
Find the wavelength of the light shining on the grating : A diffraction grating produces a first order bright fringe that is 0.156 m away from the central bright fringe on a flat screen which is 0.550 m away. find the wavelength of the light shining on the grating
Find the subsequent charge on the capacitor : An RCL circuit connected in series has R=180 ohms, C=1/280 farad, L=20 henries, and an applied voltage E(t)=10sin(t). find the subsequent charge on the capacitor
What would capital reported on statement of owner equity : Based on this information, the balance in Hal Smith, Capital reported on the Statement of Owner's Equity at the end of March would be?
Determine the speed of the command module : A space vehicle is traveling at 4150 km/h relative to the Earth when the exhausted rocket motor is disengaged, What is the speed (km/h) of the command module relative to Earth after the separation
Determine the energy of the ray : When uranium 92U235 decays, it emits a ray. If the emitted ray has a wavelength of 1.97 x 10-11 m, determine the energy (in MeV) of the ray
What is the total energy of vibration : A 256 kg wooden raft floats on a lake. When a 80 kg man stands on the raft, it sinks 9.0 cm deeper into the water. When he steps off, the raft vibrates for a while. What is the total energy of vibration
Find the coefficient of thermal expansion for the material : A rod is measured to be exactly 19.80 cm long using a steel ruler at a temperature of 21.1°C. What is the coefficient of thermal expansion for the material of which the rod is made

Reviews

Write a Review

Accounting Basics Questions & Answers

  What was the net or cash cost for the merchandise

The Tan Company purchased merchandise inventory on account with a list price of $5,000 and credit terms of 1/20, n/45. What was the net or cash cost for the merchandise?

  Calculate the budgeted manufacturing overhead rate

Waheed Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour.

  Describe the objectives for weeks one and two your

discuss the objectives for weeks one and two. your discussion should include the topics you feel comfortable with any

  Transaction analysis-various accounts

Prepare an answer sheet with the following column headings. For each of the following transactions or adjustments, indicate the effect of the transaction or adjustment on assets, liabilities, and net income by entering for each account affected th..

  For each of parts 1 to 5 a prepare the necessary journal

the following selected items and amounts were taken from the balance sheet of quale company as of december 31 2012cash

  Computing amount paid to common shareholders

Intrepid Inc. declared a $1,000,000 cash dividend. It currently has 15,000 shares of 6%, $100 par value cumulative preferred stock outstanding. It is one year in arrears on its preferred stock. How much cash will Intrepid distribute to the common ..

  Calculate the amount of net income

Compute the amount of net income that ABC Company would report inits 2007 income statement after all the above transactions arerecorded and all necessary adjusting entries are made at December31, 2007. Don't use decimals in your answer.

  Kimm company has gathered the following information about

kimm company has gathered the following information about its product. direct materials each unit of product contains

  The conversion of preferred stock might be recorded by

the conversion of preferred stock may be recorded by thea. market value method.b. par value method.c. book value

  Present value and concept of liability

What is the relationship between present value and the concept of a liability?

  When using the percentage-of-completion method of

when using the percentage-of-completion method of accounting for long-term contracts the percentage of completionused

  How much of the payments will be included in len taxable

len is entitled to receive monthly payments of 1,500 over his life from his employer's qualifield pension plan the payments begin january 1, 2011 he contributed 71,500 to the plan prior to his retirement at age 62. using the simplified method, how..

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