subject
Business, 24.09.2020 14:01 naddiachoudry9970

On February 1, Tory began a service proprietorship with an initial cash investment of $2,000. The proprietorship provided $5,000 of services in February and received full payment in March. The proprietorship incurred expenses of $3,000 in February, which were paid in April. During March, Tory drew $1,000 against the capital account. In the proprietorship's financial statements for the two months ended March 31, prepared under the cash basis method of accounting, what amount should be reported as capital

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 04:50
Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.
Answers: 1
question
Business, 23.06.2019 01:50
Mart's boutique has sales of $820,000 and costs of $540,000. interest expense is $36,000 and depreciation is $59,000. the tax rate is 21 percent. what is the net income? $146,150 221,200 105,000 139,050
Answers: 3
question
Business, 23.06.2019 09:30
Is 6ixnine getting out of jail this year?
Answers: 2
question
Business, 23.06.2019 23:30
How much hands-on work experience with personal computing devices should a technician have before taking the a+ certification exams?
Answers: 1
You know the right answer?
On February 1, Tory began a service proprietorship with an initial cash investment of $2,000. The pr...
Questions
question
Business, 13.10.2020 21:01
question
Mathematics, 13.10.2020 21:01
question
Spanish, 13.10.2020 21:01
question
Social Studies, 13.10.2020 21:01
question
History, 13.10.2020 21:01
question
Chemistry, 13.10.2020 21:01
question
Social Studies, 13.10.2020 21:01
question
Mathematics, 13.10.2020 21:01
question
Mathematics, 13.10.2020 21:01
question
Mathematics, 13.10.2020 21:01
Questions on the website: 13722359