2) Prepare a statement of owner's equity for Nolan Company for the year ended Decembe 31, 2020. The owner invested $5,500 during the current year (Cell D52). Hint: You must
calculate the beginning balance in the capital account.
Nolan Company
Statement of Owner's Equity
For Year Ended December 31, 2020
Nolan, Capital, January 1, 2020
Investment by owner
Net income
Subtotal
Withdrawals by owner
Nolan, Capital, December 31, 2020
5,500
2.100
1,500
3) Prepare a balance sheet for Nolan Company at December 31, 2020.
Nolan Company
Balance Sheet
December 31, 2020
Assets
$5,600
1,300
11,000
3,700
27,300
Cash
Accounts receivable
Inventory
Prepaid rent
Buildings
Total assets
$48,900
Liabilities and Equity
$7,500
4,300
$11,800
Llabilities
Accounts payable
Unearned subscriptions
Total liabilities
Equity
Nolan, Capital
Total liabilities and equity
$57,000

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th withdraw?

Why is investing in a mutual fund less risky than investing in a particular company’s stock?

Swathmore clothing corporation grants its customers 30 days' credit. the company uses the allowance method for its uncollectible accounts receivable. during the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. at the fiscal year-end of december 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly. at the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. accounts receivable activity for 2013 was as follows: the company's controller prepared the following aging summary of year-end accounts receivable: prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (if no entry is required for a particular event, select "no journal entry required" in the first account field.) prepare the necessary year-end adjusting entry for bad debt expense. (if no entry is required for an event, select "no journal entry required" in the first account field.) what is total bad debt expense for 2013? calculate the amount of accounts receivable that would appear in the 2013 balance sheet?