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 191 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?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Did you know?

People who have myopia, or nearsightedness, are not able to see objects at a distance but only up close. It occurs when the cornea is either curved too steeply, the eye is too long, or both. This condition is progressive and worsens with time. More than 100 million people in the United States are nearsighted, but only 20% of those are born with the condition. Diet, eye exercise, drug therapy, and corrective lenses can all help manage nearsightedness.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Sensing of balance in aquatic invertebrates. Sensing of balance in aquatic invertebrates.
An example of sodium balance achieved by the coordinated actions of three hormones. An example of sodium balance achieved by the coordinated actions of three hormones.
The b sheet, another common secondary structure in proteins The b sheet, another common secondary structure in proteins
Renal regulation of sodium and potassium balance Renal regulation of sodium and potassium balance
Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5 Anglin's estimates of the total vocabulary of children in Grades 1, 3, and 5
Increase in total spending in presidential campaigns, 1976-2020 Increase in total spending in presidential campaigns, 1976-2020
Video: Structure of Amino Acid, Peptide Bonds & Polypeptides

For a complete list of videos, visit our video library