Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. john smith is the owner of alpha technologies inc.

John Smith is the owner of Alpha Technologies Inc. The beginning balance in Smith, Capital...

50.1K

Verified Solution

Question

Accounting

John Smith is the owner of Alpha Technologies Inc. The beginning balance in Smith, Capital was $80,000. The revenues and expenses were $60,000 and $40,000, respectively. No withdrawals were made by Smith during the year. The ending balance in Smith, Capital was $100,000.

A. True

B. False

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Civil Engineering
1.2K views

State True/False a. Storm sewers are usually designed using an assumption of gradually varied flow. b. While water...

Psychology
1.2K views

A rationale for why each movement is/was considered essential to understanding human behavior and experiences. (Psychoanalysis, Behaviorism,...

Biology
1.2K views

2 Green Algae A B 44 3 C Choose the answer that correctly associates the...

Physics
1.2K views

A tank full of water has a small hole at its bottom Let t be...

Accounting
1.2K views

12. 11 Determine cash flows Kauai Tools Inc. is planning to invest in new manufacturing...

Accounting
1.2K views

Chapter 13 Homework i Sved Help 3 The Heinrich Tire Company recalled a tire in...

Accounting
1.2K views

****READ*** Need answers only for question 5 , 7 , 8 and from 9 to...

Accounting
1.2K views

Define a relevant cost. For a hospital considering the purchase of a new X-ray machine,...

Accounting
1.2K views

All of the following are true regarding the preparation of a New York state tax...

Accounting
1.2K views

Sheffield Corp. issued 2,500 5 % , 7- year , $1,000 bonds dated January 1,...

Finance
1.2K views

Bond Valuation Theory Question 5 Discuss the concept of Bond Ratings, including its primary concern...

Accounting
1.2K views

Complete the information required below to prepare a partial balance sheet for 2018 and 2019...