This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Jem's Jewelers reported total shareholders' equity of 100,000 on its February 28 balance sheet. ... (Read 188 times)

Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
on: Jul 5, 2018
Jem's Jewelers reported total shareholders' equity of 100,000 on its February 28 balance sheet. During March, the business earned 250,000, and declared and paid a cash dividend of 10,000. What was total shareholders' equity on March 31?
 
  A) 360,000
  B) 350,000
  C) 340,000
  D) 260,000

Question 2

The account that would be credited for the amount of tax collected and paid on sales would be
 a. Sales.
   b. Sales Tax Payable.
   c. Cash.
   d. Accounts Payable.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

b


Mr3Hunna

  • Hero Member
  • *****
  • Posts: 536
Reply #2 on: Jul 5, 2018
Thank you :)


chreslie

  • Sr. Member
  • ****
  • Posts: 307
Reply #3 on: Jul 5, 2018
Happy to help you


« previous next »
 

Did you know?

Cucumber slices relieve headaches by tightening blood vessels, reducing blood flow to the area, and relieving pressure.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

Did you know?

Street names for barbiturates include reds, red devils, yellow jackets, blue heavens, Christmas trees, and rainbows. They are commonly referred to as downers.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
To maintain balance the bipedal pelvis has a foreshortened ilium and is broader and bowl-shaped. The To maintain balance the bipedal pelvis has a foreshortened ilium and is broader and bowl-shaped. The
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Acid–Base Balance Acid–Base Balance
Balance the given redox reduction equation in basic solution using the half reaction method Balance the given redox reduction equation in basic solution using the half reaction method
The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ... The total weight of Peter, David and Henry is 123 kg, Peter is 15 kg heavier than David. David ...
Video: Carbohydrate digestion - mouth and stomach & pancreas and small intestine

For a complete list of videos, visit our video library