Jardin plc had a capital balance of 186,000 at the beginning of the period. At the end
Question:
Jardin plc had a capital balance of £186,000 at the beginning of the period. At the end of the accounting period, the capital balance was £189,000.
a. Assuming no additional investment or withdrawals during the period, what is the net income for the period?
b. Assuming an additional investment of £13,000 but no withdrawals during the period, what is the net income for the period?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 82% (17 reviews)
a Ending capital balance 189000 Beginning capital balance 18600...View the full answer
Answered By
Rustia Melrod
I am a retired teacher with 6 years of experience teaching various science subjects to high school students and undergraduate students. This background enables me to be able to help tutor students who are struggling with the science of business component of their education. Teaching difficult subjects has definitely taught me patience. There is no greater joy for me than to patiently guide a student to the correct answer. When a student has that "aha!" moment, all my efforts are worth it.
The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
4.90+
4+ Reviews
10+ Question Solved
Related Book For
Accounting Principles
ISBN: 978-1119419617
IFRS global edition
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
Question Posted:
Students also viewed these Business questions
-
The partnership agreement of Ale, Car, and Eri provides that profits are to be divided as follows: 1. Ale is to receive a salary allowance of $10,000 for managing the partnership business. 2....
-
Jamarcus Webster purchased one-half of Drew Akinss interest in the Perry and Akins partnership for $25,000. Prior to the investment, land was revalued to a market value of $100,000 from a book value...
-
Garcia Enterprises had a capital balance of $168,000 at the beginning of the period. At the end of the accounting period, the capital balance was $198,000. (a) Assuming no additional investment or...
-
An assistant treasurer is currently reevaluating their firm's banking relationship. The firm's current lender charges an effective borrowing cost of 4.25 percent. A competing lender provides the...
-
Compute the Macaulay and modified duration for the same securities as in Exercise 1. Today is May 15, 2000, and the current, semi-annually compounded yield curve is in Table 3.6. Compute the duration...
-
Find the domain of each function. Write answers using interval notation. f(x) = -2 log x
-
What happens if you specify an invalid format string?
-
During 2011, Rooster Company purchased 5,000 shares of Hen Company common stock for $18 per share and 3,200 shares of Egg Company common stock for $21 per share. These investments are intended to be...
-
Keynesians believe that the tools (G, T and MS) should be used to try to help the economy. Should we? Why or why not?
-
In timestamp ordering, W-timestamp (Q) denotes the largest timestamp of any transaction that executed write (Q) successfully. Suppose that, instead, we defined it to be the timestamp of the most...
-
In February 2020, Xia Lin invested an additional 12,000 in her business, Lins Pharmacy, which is organized as a proprietorship. Lins accountant, Sal Costa, recorded this receipt as an increase in...
-
Summarized operations for Oslo Outfitters for the month of July are as follows. Revenues recognized: for cash 20,000; on account 70,000. Expenses incurred: for cash 26,000; on account 40,000....
-
Fill in the blank with an appropriate word, phrase, or symbol(s). An equation in which the highest exponent on the variable is a 1 is called a(n) __________ equation.
-
Briefly comment on the following statement. A key component in a bad debt minimisation strategy is the early identification of doubtful debts.
-
Outline one internal control benefit of issuing statements of accounts to customers.
-
Briefly explain the internal control measures that should exist for electronic payments.
-
Briefly outline the internal controls that should exist over: a the processing of sales invoices, and b remittances from customers.
-
From the following transactions of Bouasing Trading Co for November 2022, prepare the sales journal (or general journal), post to the general ledger and prepare a trial balance. Assume your own...
-
The development of a high-quality LMX relationship has been described as a "life-cycle model" that grown and matures over time. Discuss how this works.
-
Compare and contrast debt financing and equity financing as ways of starting a new business. Does one have an overall advantage over the other? What situation is more favorable to the use of debt...
-
Identify which basic assumption of accounting is best described in each item below. (a) The economic activities of FedEx Corporation are divided into 12-month periods for the purpose of issuing...
-
Identify which basic principle of accounting is best described in each item below. (a) Norfolk Southern Corporation reports revenue in its income statement when it is earned instead of when the cash...
-
Presented below are three different transactions related to materiality. Explain whether you would classify these transactions as material. (a) Marcus Co. has reported a positive trend in earnings...
-
What is buzz marketing? Viral marketing? 2. What is relationship marketing? How to use CRM? 3. Appropriate usage of social media. 4. How to develop effective social media practices? 5. Develop a...
-
Total gross sales for the period include the following: Credit card sales (discount 3%) Sales on account (1/15, n/60) $9,600 $11,400 Sales returns related to sales on account were $350. All returns...
-
Arndt, Incorporated reported the following for 2024 and 2025 ($ in millions): Revenues Expenses 2024 $ 942 798 Pretax accounting income (income statement) Taxable income (tax return) Tax rate: 25% $...
Study smarter with the SolutionInn App