The beginning capital of the business totals $4,000., Accounting Basics

Assignment Help:

The beginning capital of the business totals $4,000. If the net income for the period totals $14,000 and the withdrawals by the owner total $3,000, what will be the new capital balance reported?


Related Discussions:- The beginning capital of the business totals $4,000.

Net book value, When we say an asset is at its Net Book Value, Does that me...

When we say an asset is at its Net Book Value, Does that mean Cost of asset + Revaluation added - Accumulated Depreciation or Revaluation is not relevant for calculating the NBV?

FNSACC501 – Provide financial and business performance infor, Part 1: Stude...

Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation

Under and over absorption, A company absorbs overheads on machine hours tha...

A company absorbs overheads on machine hours that are budgeted at 11,250. The budgeted overhead is $281 250.  Results illustrate actual hours of 10 980 and overhead of $276 652.

Describe about expense, Q. Describe about Expense? Expense -- an expend...

Q. Describe about Expense? Expense -- an expenditure that is chargeable against revenue during an accounting period.An expense leads to the reduction of an asset. All expenditu

Advantages and disadvantages of lifo, Q. Advantages and Disadvantages of LI...

Q. Advantages and Disadvantages of LIFO? LIFO: Advantages (a) LIFO reports both sales revenue and cost of goods sold in current dollars and (b) lower income taxes result if use

Trial balanc, AL MASA a sole trader,decided to install a new machine to use...

AL MASA a sole trader,decided to install a new machine to use within her sole trader business

Branch accounting, Mohan brothers invoiced goods to their branch at cost pl...

Mohan brothers invoiced goods to their branch at cost plus 33.33%. All the cash collected by branch is banked on the same day to the credit of head office. All expenses are paid by

Ethical behavior of accountants, Numerous accounting organizations have cod...

Numerous accounting organizations have codes of ethics governing the behaviour of their members. For example both the American Institute of Certified Public Accountants and the Ins

Example of supplies on hand, Q. Example of supplies on hand? On 2010 De...

Q. Example of supplies on hand? On 2010 December 4 Micro Train Company buy supplies for USD 1400 and recorded the transaction as follows Micro Train's two accounts reci

the relevant authoritative literature, Determining the physical quantity t...

Determining the physical quantity that should be contained in inventory normally is a simple matter because that amount have of items in the possession of the company. The cost of

Write Your Message!

Captcha
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