Ask Question
22 October, 18:16

If the assets of a business are $ 390 comma 000 and the liabilities are $ 110 comma 000 , how much is the owners' equity? (2) if the owners' equity in a business is $ 90 comma 000 and the liabilities are $ 190 comma 000 , how much are the assets? (3) a company reported monthly revenues of $ 315 comma 000 and expenses of $ 100 comma 000. what is the result of operations for the month? (4) if the beginning balance of retained earnings is $ 160 comma 000 , revenue is $ 100 comma 000 , expenses total $ 65 comma 000 , and the company declares and pays a $ 10 comma 000 dividend, what is the ending balance of retained earnings?

+4
Answers (1)
  1. 22 October, 21:37
    0
    If the assets of a business are $ 390 comma 000 and the liabilities are $ 110 comma 000 , how much is the owners' equity?

    Using the Balance Sheet Equation

    Assets = Liabilitites+Owners Equity

    390000=110000+Owners Equity

    Owners Equity=$280000

    if the owners' equity in a business is $ 90 comma 000 and the liabilities are $ 190 comma 000 , how much are the assets?

    Using the Balance Sheet Equation

    Assets = Liabilitites+Owners Equity

    Assets=190000+90000

    Assets=$280000

    (3) a company reported monthly revenues of $ 315 comma 000 and expenses of $ 100 comma 000. what is the result of operations for the month?

    Net income = Revenues-Expenses

    Net income=315000-100000

    Net Income = $215000

    (4) if the beginning balance of retained earnings is $ 160 comma 000 , revenue is $ 100 comma 000 , expenses total $ 65 comma 000 , and the company declares and pays a $ 10 comma 000 dividend, what is the ending balance of retained earnings?

    This can be found by below schedule:

    Beginning Balance ... 160000

    Add Revenue ... 100000

    Less Expense ... (65000)

    Less Dividend ... (10000)

    Ending Balance of Retained Earnings ... 185000
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If the assets of a business are $ 390 comma 000 and the liabilities are $ 110 comma 000 , how much is the owners' equity? (2) if the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers