A commenced his cloth business on 1st April, 2018 with a capital of ₩30,000. On 31st March 2019, his assets were worth ₩50,000 and liabilities of ₩10,000. Find out his closing capital and profits earned during the year.

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Help me with this question ~​

Answers

Answer 1

Answer:

Profits = ₩10,000

Closing Capital = ₩40,000

Explanation:

Let's note down the given information at first.

Opening capital = ₩30,000Worth of assests after 1 year = ₩50,000Liabilities = ₩10,000

Now,

Profits

= (Worth of assets after 1 year - Liabilities)  - Opening capital

= (₩50,000 - ₩10,000) - ₩30,000

= ₩10,000

Next, let's find the closing capital

= Assets - Liabilities

Assets                ₩50,000

Liabilities              ₩10,000

[tex]\rule{150pt}{1pt}[/tex]

Closing capital      ₩40,000

[tex]\rule{150pt}{2pt}[/tex]


Related Questions

A CFP professional is a Registered Investment Advisor managing 120 million in assets. One of his clients sends a complain letter to the CFP professional, complaining that some trades were not executed properly. During the investigation, it is discovered that the client never received the firms form ADV. Which governing body has the ultimate authority over lack of regulatory disclosure for this matter

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SEC reviews the information and have the authority of regulatory disclosure for the ADV.

What is SEC and how it works?

SEC is a Securities and Exchange Commission in United States who regulates the nation's securities industries.

The basic functions of the SEC is to protect the investors, capital formation and maintain the fairness in the market.

SEC is the governing body which has the authority in the case of ADV form.

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Julia has noticed that she is receiving more and more stress from work. she is having trouble meeting her deadlines and fears she may be fired soon. recommend the best course of action for her: julia should _______. a. accept that she is being encouraged to learn and grow b. anticipate her responses to the next performance review c. assign herself daily task lists d. ask for a letter of recommendation from her supervisor

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The best option that Julia has to take in order to ease her stress would be to  assign herself daily task lists.

What is work related stress?

This is the kind of stress that comes from the fact that  person is getting overworked.

This stress may end up reducing her performance in the work place if it is not checked.

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Answer:

C assign herself daily task lists

Explanation:

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The 1990s court case concerning advertising of ________ is especially concerning to businesspeople who believe that commercial speech should be protected by the First Amendment.

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The 1990s court case concerning advertising of tobacco is especially concerning to businesspeople who believe that commercial speech should be protected by the First Amendment.

What is advertisement?

Advertisement can be defined as the process of creating product or brand awareness.


Business people believe that commercial speech which is a form of advertising of a product is to be protected so as protect people form advertisement that can be mislead.

Therefore the 1990s court case concerning advertising of tobacco is especially concerning to businesspeople.

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It is always possible to identify all the causes of a problem completely. please select the best answer from the choices provided t f

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It false that the causes of a problem can always possible to identify completely.

What is problem solving?

This is when a means is device towards solving a difficult task. When a problem has been identified, the next step is to look for ways of solving such problems.

Hence, It false that the causes of a problem can always possible to identify completely.

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You put up $80 at the beginning of the year for an investment. The value of the investment grows 2% and you earn a dividend of $8.00. Your HPR was

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If the value of the investment grows 2% and you earn a dividend of $8.00. Your HPR was 12%.

HOLDING PERIOD RETURN (HPR)

Using this formula

HPR=Investment grow+(Dividend/Beginning investment)

Let plug in the formula

HPR=2% + ($8/$80)

HPR=2% +10%

HPR=12%

Therefore If the value of the investment grows 2% and you earn a dividend of $8.00. Your HPR was 12%.

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Conducting an inaccurate self-assessment can lead you to work at a job that you do not enjoy. please select the best answer from the choices provided t f

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When you Conduct an inaccurate self-assessment it can lead to working at a bad job that you do not enjoy :  i.e Statement in the question is TRUE

What is self assessment ?

Self assessment is the evaluation of the performance of oneself which is based on a preset standard. Self assessment can help us to determine t areas in our personality that requires improvement , which in turn will enable them make important decisions.  

In Conclusion When you Conduct an inaccurate self-assessment it can lead to working at a bad job that you do not enjoy.

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I really need help,can someone help me please!!!!!!!!????

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Answer:

with what............

Which evidence does Gore use to support the idea that climate change is
occurring?
A. Personal observation of faulty events
B. Worldwide events and damages resulting from climate change
C. Hypothetical situations of potential damage
D. Comparisons of disasters that affect culture, religion, and tradition

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Gore use to support the idea that climate change is Worldwide events and damages are resulting from climate change.

What is Climate?

Climate helps to describe how the weather in particular place is.

It includes the temperature, humidity, sunlight, rainfall and precipitation. The effect of the interaction of this factors determines the climate over a longer period of time.

Therefore, Gore use to support the idea that climate change is Worldwide events and damages are resulting from climate change.

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An owner of an apartment complex pays a previous tenant a $50 finder's fee for referring a person who becomes a new tenant. What is this arrangement NOT considered to be

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This arrangement is not considered to be : Legal

What is Finders fee ?

Finders fee is the commision paid to an individual or group for facilitating a transaction. The arrangement is not considered to be legal unless the previous tenant was also a licensed real estate agent.whom will pay his tax from his earnings.

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the term formal education is defined by the text as

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Formal education in contrary to informal education describes an education system which has a set curriculum and is regulated by some kind of entity (like for example a state).

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According to the ideas of Dale Carnegie, it can be inferred that we should explain the meaning of our main content (option C)

Who was Dale Carnegie?

Dale Carnegie (1888 - 1955) was a noted American writer of books dealing with human relationships and effective communication.

Carnegie was noted for writing about taking responsibility. Additionally, one of the central ideas of his books is that it is possible to change the behavior of others if we change our attitude towards them.

According to this author, once you deliver your main content, you must explain to the public in detail what you meant with your text, in a few words, you should explain what you mean to give greater clarity.

Note: This question is incomplete because the options are missing. Here are the options.

Tell them what you're going to say.

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The use of Ask client and Requests are the 2 ways to send a message to your client when signed in as an Accountant user.

What is the use of QuickBooks Online Accountant?

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smart manufacturing is achieved by instituting employee surveillance and monitoring.

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For a manufacturing process to be smart instituting employee surveillance and monitoring is very important.

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Smart Manufacturing also called CAD/CAM, computer aided design and computer aided manufacturing involves the integration of computer in the production of goods and services.

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Based on the fact that this is the first year rate on an adjustable rate mortgage, the Johnsons are most likely seeing a teaser rate.

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The steps that owner/manager can deal with the crisis experienced in the workplace includes:

identifying issuedealing with ittimely communicationalways be preparedlearning from experience

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What does franchisor mean?
A.
a person who allows another person to use a brand name for a fee
B.
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C.
a person who owns a hotel chain and rents out a unit for a fee
D.
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Answers

Answer:

The correct answer is C) A person who owns a hotel chain and rents out a unit for a fee.

Answer:

The answer should be A

Explanation:

A debt instrument with no ready market is exchanged for property whose fair market value is currently indeterminable. When such a transaction takes place:______.
a. the present value of the debt instrument must be approximated using an imputed interest rate.
b. it should not be recorded on the books of either party until the fair market value of the property becomes evident.
c. the board of directors of the entity receiving the property should estimate a value for the property that will serve as a basis for the transaction.
d. the directors of both entities involved in the transaction should negotiate a value to be assigned to the property.

Answers

C I believe is the answer

Marcos has multiple duties at work. Sometimes, he has so many projects and deadlines that he
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A) Creating an action plan showing how he will complete each task
B) Making a list of all tasks and the date each is due
C) Completing the easiest tasks first and then focusing on the harder tasks
D) Asking his supervisor to help him prioritize the tasks on his to-do list

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The action that is best for first step toward getting organized Making a list of all tasks and the date each is due.

Why should he make a list?

A list contains all the work Marcos is to do in order of date due for submission which will help him to know which work is to be done first.

He can also have a timetable to help him plan each day and the time to allocate for a particular project.

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Artificial Intelligence Inc. sells to Beta Bots Corporation a promising idea for a technological innovation that is still being developed and that looks very promising. This is Group of answer choices ethical and legal. unethical but legal. unethical and illegal. illegal and unethical.

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Artificial intelligence Inc. sells to Beta Bots Corporation an idea for technological innovation. This is ethical and legal. Hence, Option A is the correct choice.

What do you mean by being ethical?

Being ethical conforming to universal ethical standards. Applied to the work environment, it method that a moral man or woman has a better preference than simply avoiding certain conduct or exercise due to the fact it's far illegal. What matters is that it is probably the incorrect issue to do morally.

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A marketing associate is working on a remarketing strategy for their Search Ads campaign. They want to re-engage high-value customers. Which type of audience will likely have the highest lifetime value?

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The type of audience who will likely have the highest lifetime value are People who previously purchased a large number of the website’s products.

What do you mean by high lifetime value customers?

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A company reports the following at year end: current assets of $3,600; total assets of $12,500; current liabilities of $1,200; total liabilities of $8,500. Working capital equals:

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The working capital of the company at the end of the year is $2,400.

What is meant by working capital?

Working capital is the amount that is earned by a company from its daily business activities. It is determined by taking the difference between recent assets acquired and recent obligations incurred.

Given values:

Current Assets: $3,600

Current Liabilities: $1,200

Computation of working capital of a company :

[tex]\rm\ Working \rm\ Capital=\rm\ Current \rm\ Assets -\rm\ Current \rm\ Liabilities\\\rm\ Working \rm\ Capital=\$3,600-\$1,200\\\rm\ Working \rm\ Capital=\$2,400[/tex]

Therefore, when the current liabilities and current assets are amounting to $1,200 and $3,600 then the working capital comes out to be $2,400.

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Select all that apply.

Why do countries develop economic systems?

a)to provide economic assistance to all citizens
b)to decide how to handle the issue of scarcity
c)to protect industry from trade
d)to help make decisions concerning what, how, and for whom things are produced
e)to prevent monopolies from taking over the market

Answers

b ) to decide how to handle the issue of scarcity.

d) help make decisions concerning what, how, and for whom things are produced.

e)to prevent monopolies from taking over the market.

Explanation:

Any Country develop its economic system to handle the issue of scarcity i.e lack of resources. To achieve this end to ensure economic strength handling issue of scarcity of citizens is important.

Economy also concentrates goods and products how, what and who will produce things in the market.

It also prevent other markets to taking over control of the country's economy.

what is double entry in financial accounting​

Answers

Answer:

method of recording transactions where for every business transaction, an entry is recorded in at least two accounts as a debit or credit. In a double-entry system, the amounts recorded as debits must be equal to the amounts recorded as credits.

Eckert Company is involved in producing and selling high-end golf equipment. The company has recently been involved in developing various types of laser guns to measure yardages on the golf course. One small laser gun, called LittleLaser, appears to have a very large potential market. Because of competition, Eckert does not believe that it can charge more than $88 for LittleLaser. At this price, Eckert believes it can sell 112,000 of these laser guns. Eckert will require an investment of $13,176,471 to manufacture, and the company wants an ROI of 17%. Determine the target cost for one LittleLase.

Answers

The target cost for one LittleLase is $68.

How to calculate the cost?

In the information given, the investment is given as $13176471. The value of the profit will be:

= 0.17 × 13176471

= 2240000

The profit per gun will be:

= 2240000/112000

= 20.

Therefore, the target cost will be:

= 88 - 20.

= 68

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A group of teens in your town meet and agree to charge a flat fee of five dollars per hour for babysitting. They charge the same rate no matter how many children there are, or when the service is needed. Then they divide areas of town on a map between them, agreeing to only serve customers within their respective areas. Within weeks they have gained most of the business in town, driving out other teens that cannot lower their rates. The babysitting market in your town has become

Answers

The babysitting market in the town has become an oligopoly.

What is an Oligopoly?

An Oligopoly is an industry which is influenced by the firms.

In oligopoly, there are very few sellers and all are influenced by the behavior of the other sellers.

In this market, sellers deal in homogenous product.

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Answer: am oligopoly

Explanation: i got it right

A tool manufacturer is planning to set up a production plant abroad. It has selected five potential countries based on their population size, stage of economic development, labor costs, and access to world markets. Considering the connection between culture and competitive advantage, which country would be the best investment site for this company

Answers

The best investment site for this company is Country B, where education is well-developed and social stratification is lacking.

What is competitive advantage?

Competitive advantage can be defined as the factors, conditions, or circumstances that allow a business firm (company) to manufacture finished goods or services better and perhaps, cheaper than other rival business firms (companies) in the same industry.

This ultimately implies that, competitive advantage is responsible for putting a business firm (company) in a superior and more favorable position than its rivals.

In this scenario, we can infer and logically conclude that the best investment site for this company is Country B, where education is generally well-developed and social stratification is completely lacking.

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Why did the speaker decline to grant product endorsements to marketers after her study was published?

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The reason why the speaker declined to grant product endorsements was that she said that she would have been going beyond science and good scientists are careful not to do this.

What is an Endorsement?

This refers to the personal indication or seal of approval that is given to a particular item or a company about something to give it credibility.

Hence, we can see that from the complete text, there is the narration of the product endorsements and why the speaker did not give one because it would go beyond science.

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Why are institutionally provisioned technology systems (in other words, systems provided through a university, hospital, or clinic) generally more secure than consumer products

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Institutionally delivered technology solutions are more secure than consumer ones because they are focused on healthcare recommendations and improvement.

What is a technology that an institution has provided?

It's vital to keep in mind that institutionally provided technology only applies to systems provided by a university, hospital, or clinic.

Institutionally delivered technology solutions are more secure than consumer offerings since they focus on therapeutic recommendations and improvement.

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Having just graduated with a degree in business, Brianna looks over several offers she has received from companies interested in her talents. She is specifically interested in the wage setup each company is offering. One wants her to manage a small store; this would be a salaried position. Another would have her working in a sales office on commission. The third is a spot in a paper company as an hourly sales manager. Brianna has been offered a chance to do per-project work for a retail company, but she would be an independent contractor. Compare and contrast these

Answers

Answer:She's just getting started financially and decides not to join her field's major professional association because she thinks it's not worth the annual fee.

Explanation:There u GO!!<3:)

_____ is an important part of the interview process. it allows you to consider how you did in the interview, examining your strong and weak points. a. active listening b. self-evaluation c. networking d. empathizing please select the best answer from the choices provided a b c d

Answers

Self-evaluation is an important part of the interview process. it allows you to consider how you did in the interview. Hence, option B. self-evaluation.

What is an interview?

An interview is a well-formed dialogue where one participant asks questions, and the other provides answers. In common parlance, the word "interview" refers to a one-on-one conversation between an interviewer and an interviewee.

Therefore, self-evaluation is the correct answer.

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