At the end of an accounting period, a company's liabilities equaled $295,000, and owner's equity equaled $210,000. How much were the company's assets? assets = [ ? ] %3D
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![At the end of an accounting period, a company's
liabilities equaled $295,000, and owner's equity
equaled $210,000. How much were the company's
assets?
assets = [?]
Round to te nearest hundredth.
Enter
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- 14 - Our company has purchased a land for 472.000 TL including 18% VAT. Which of the following accounts is correct to use in the relevant accounting record ? a) 252 Buildings Hs. 72.000 TL (Borrower) B) 250 Land and Lands Hs. 400.000 TL (Creditor) NS) 250 Land and Lands Hs. 400.000 TL (Borrower) D) 391 Calculated VAT Hs. 72.000 TL (Borrower) TO) 191 VAT Deductible 72.000 TL (Creditor)Ana Inc. provided the following information for the current year: Current asserts, January 1 P500,000 Property, plant and equipment, January 1 P3,000,000 Noncurrent liabilities, January 1 P1,000,000 Property, pant and equipment, December 31 P4,000,000 Current liabilities, December 31 P300,000 All assets and liabilities are reported at year end. Working capital of P600,000 remain unchanged. Net income for the current year is P400,000. No dividends were declared during the current year. What is the shareholders' equity on December 31?A. 1,800,000B. 4,800,000C. 3,800,000D. 2,800,000Pioneer Company is incorporated and starts operations on July 1 of the current year. On October 1 of the current year it acquires goodwill for $13,500. Assuming the company has a December 31 fiscal year-end, what is the maximum CCA for the current year? Choose the correct answer. (Round your answer to the nearest whole dollar.) OA. $1013 B. $340 C. $510 D. $255
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- On 1 July 2022, Susan Ltd took control of the assets and liabilities of Adam Ltd. At this date the statement of financial position of Adam Ltd was as follows: Carrying amount Fair value Machinery $60,000 $87,000 Fixtures & Fittings 80,000 88,000 Vehicles 55,000 55,000 Current Assets 30,000 32,000 Current Liabilities (36,000) (38,000) Total Net assets 189,000 Share capital (100 000 shares) 100,000 General reserve 40,000 Retained earnings 49,000 Total Equity 189,000 Susan Ltd agreed to: (i) pay the shareholders of Adam Ltd one share in Susan Ltd for every two shares held in Adam Ltd. Shares in Susan Ltd have a fair value of $2.00 per share. The costs of issuing the shares by Susan Ltd costed $2,800 (ii) pay the shareholders of Adam Ltd $1 in cash for each share held in Adam Ltd. On 1 July 2022, Adam Ltd is currently being sued by a previous customer. The expected damage is $100,000. Lawyers estimate that there is a 10% chance of losing the case.…16. Logan Corporation purchased a patent for $60,000 on 1-1-2023. The patent has a 5 year remaining life. Required: Record the first year's amortization in the journal.41 Reported in the ledger of Mayumi Company On December 31, 2017, is a Patent account with a balance of P120,000, and accumulated amortization of P 60,000. The Patent is being amortized for its useful life of eight years. On July 1, 2018, Mayumi spent P 30,000 to defend the patent against an infringement suit. On January 1, 2019, with the rapid change in technology, the company determined that the patent will be of no value to the company and that a loss on patent obsolescence has to be recognized.How much is the loss on patent obsolescence?
