Question: 11 - ABC Co. started the year with total assets 80, 000 TL and total liabilities of 40, 000 TL. During the year, the business

11 - ABC Co. started the year with total assets 80,

11 - ABC Co. started the year with total assets 80, 000 TL and total liabilities of 40, 000 TL. During the year, the business earned revenues of 120,000 TL and incurred expenses of 70,000 TL. Scott withdrew 60, 000 TL. What is the amount of Scott's capital balance at the end of the year? a) 40,000 20,000 b) c) 3742012 d)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Hi, just after the multiple choice answer to these homework question to cross check. TIA Question 1). Which of the following are most likely to be users of management accounting information? A)...

1. Blue Spruce Corp. began the year with retained earnings of $395000. During the year, the company recorded revenues of $482000, expenses of $383000, and paid dividends of $44000. What was Blue's...

QUESTION ONE 1. Which of the following statement is incorrect? Assets(K) Liabilities(K) Capital(K) a) 7,850 1,250 6,600 b) 8,200 2,800 5,400 c) 9,550 1,150 8,200 d) 6,540 1,120 5,420 2. Which of the...

1. An owner of a business is confused when he saw the financial statements of his business that was prepared by his accountant. For the last accounting period, he saw that he has a decrease in profit...

1. Which of these is not a limitation of accounting information? A. The delay in providing reports to external users after the end of the financial period B. The lack of accounting rules C. The...

15,000. The Allowance for Doubtful Account has a debit balance of $8, 000. What is Bad Debt Expense using the percentage-of-receivable method 9 Jackaon has $1,500,000 in Accounts Receivable. The...

2.Which of these entities is least likely to have users dependent on general purpose financial statements? Select one: a.A company with a large number of shareholders b.A company listed on the stock...

Jason Michaels has just been hired as CEO of Redstone Memorial Hospital, a 200 bed community hospital in an affluent suburban location. Redstone has an excellent reputation in its community, but the...

X Financial Statements Fina x + - X WileyPLUS x Google Translate X Chapter 1 Multiple Choice m.wileyplus.com/edugen/lti/main.uni Return to Blackboard Assessment to accompany Birt, Accounting:...

The breaking strengths of 14 randomly selected objects produced from a standard procedure had a mean of 56.43 and a standard deviation of 6.30. In addition, the breaking strengths of 20 randomly...

An ideal Otto cycle has a compression ratio of 9. At the beginning of compression, air is at 14.4 psia and 80oF. During constant-volume heat addition 450 Btu/lbm of heat is transferred. Calculate (a)...

compelete all requirements listed. Show all images Show all images Show all images done loading

SIMAD UNIVERSITY Class: BACC25 Subject: Islamic Accounting Instructions: a) Follow The Instructions. Midterm Exam Instructor: All Ibrahim Date: 6-4-2022 b) You Have 1.5 Hrs. To Complete This Test. c)...

8. Explain the difference between translation and interpretation.

10. Discuss the complexities of language policies.

1. Understand how verbal and nonverbal communication differ.