Pauline Palmer began a new business by depositing $100,000 in the business bank account. She wrote two
Question:
Pauline Palmer began a new business by depositing $100,000 in the business bank account. She wrote two checks from the business account: $20,000 for office furniture and $5,000 for office supplies. What is her financial interest in the company?
a. $75,000
b. $100,000
c. $80,000
d. $125,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 57% (7 reviews)
Pauline Palmers financial interest in the company is ...View the full answer
Answered By
Ernie Moises Evora
I have worked as a teacher, a tutor and instructor.
I have also worked as a community leader in my community.
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...
-
Company Name: Ply wood ltd The company began operations as a retailer on 1 July 2017. It buys and sells one inventory item, derrings. The company is registered for GST which it pays quarterly. Assume...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Use the percentages in Figure 7.3 and the values in Figure 7.4 to answer the following questions: What percentage of SAT takers score between 500 and 600? Figure 7.3 Normal Curve Percentages, to Two...
-
Wendy received the following amounts in the current year: Support payments from her former spouse ($4,000 x 12) $48,000 Employment insurance benefits 4,100 Inheritance 20,000 Scholarship 5,000 ...
-
Give some examples of volunteer work that can be completed from home or during off hours.
-
Are conventional financial accounting and external ecological accounting complements to each other or substitutes for each other? Discuss.
-
Julia Robertson is a senior at Tech, and she's investigating different ways to finance her final year at school. She is considering leasing a food booth outside the Tech stadium at home football...
-
Explain why some risks can be self-insured while other risks are not susceptible to self-insurance. What numerical dimensions of the risks must an organization have to self-funded risks, and why they...
-
Write an email message to the division vice president, Jeri Ross, asking her to designate one of the conference rooms as a quiet-zone work room. It would have WiFi so that employees can stay...
-
What information does the statement of owners equity contain?
-
What is the function of the Securities and Exchange Commission?
-
Basler Corporation, which began business on January 1, 2014, appropriately uses the installment-sales method of accounting. The following data were obtained for the years 2014 and 2015....
-
1-Identify and describe inspiring leadership system examples using two Baldrige examples, one from the K&N and the MESA USA corporation. 2-explain LEADERSHIP SYSTEMS from other organizations and what...
-
3. Two protons are released simultaneously from rest when the two are 1.00 nm apart. What is the speed of either at the instant when the two are separated by 5.0 nm? A. 10.5 km/s B. 10.5 m/s C. 14.9...
-
You are running macOS Mojave and you want to begin working with various other OSs such as Windows Server and Linux. You only have one computer and you need to keep using macOS while working with the...
-
How much interest is included in the future value of an ordinary simple annuity of $1,150 paid every six months at 10% compounded semi-annually if the term of the annuity is 5 years?
-
Assume that TDW Corporation (calendar-year-end) has 2023 taxable income of $682,000 for purposes of computing the 179 expense. The company acquired the following assets during 2023: (Use MACRS Table...
-
You serve as the trustee for the Sooner XXV trust. The following transactions occur during 2013: September 15 Open the Sooner XXV trust account, depositing the $100,000 transferred from the estate of...
-
Figure displays a 12.0 V battery 3 four uncharged capacitors of capacitances C1 = 4.00F, C2 = 6.00F, and C3 = 3.00F. The switch is thrown to the left side until capacitor 1 is fully charged. Then the...
-
On August 31, 2016, the balance in the checkbook and the Cash account of the Sonoma Inn was $12,281. The balance shown on the bank statement on the same date was $13,197. Notes a. The firms records...
-
During the bank reconciliation process at A. Fontes Consultancy on May 2, 2016, the following two errors were discovered in the firm's records. a. The checkbook and the general journal indicated that...
-
On August 1, 2016, the accountant for Western Imports downloaded the company's July 31, 2016, bank statement from the bank's website. The balance shown on the bank statement was $28,760. The July 31,...
-
In this assignment, students must select a publicly listed entity, perform fundamental analysis and provide investment recommendations. The selected company can be one of the companies in your...
-
The following is an interesting interview with Ray Kurzweil that explains what the "Singularity" is. It is only two months ago, before the explosion Chat GPT....
-
When is a situation where a larger, more complex firm might have net income higher or lower than changes in cash (in other words, provide a concrete hypothetical setting where cash and net income...
Study smarter with the SolutionInn App