The below selected information is taken from the work sheet for Majestic Comparry, that is owned by Edward, at its year-end. Balance Sheet and Income Statement Statement of Owner's Equity Dr. Cr. Dr. Cr. Edward's Contribution Edward, Withdrawals Totals 100,000 52,000 65,000 150,000 Determine the amount for beginning Capital. Note that Edward's Capital was $200,000 at year-end balance sheet. (Please show your calculation

Financial data for Joel de Paris, Incorporated, for last year follow: Joel de Paris, Incorporated Balance Sheet Assets Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity Joel de Paris, Incorporated Income Statement Sales Operating expenses Net operating income Interest and taxes: Interest expense Tax expense Net income $ 111,000 200,000 1. Average operating assets 2. Margin 2. Turnover 2. ROI 3. Residual income $ 340,000 1,021,000 1,209,000 Total liabilities and stockholders' equity $ 2,494,000 $ 2,570,000 Beginning Balance $ 132,000 343,000 577,000 788,000 405,000 249,000 $ 2,494,000 $ 5,208,000 4,322,640 885,360 311,000 $ 574,360 % % $ 380,000 1,021,000 1,093,000 Ending Balance The company paid dividends of $458,360 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of…

Given are the amounts of assets, liabilities, owner’s equity, revenues, andexpenses of AQUA Inc. at 12/31/10. The beginning amount of Retained Earnings at1/1/10 was $20,000, and during the year Dividends of $60,000 were taken out bythe owners of Aqua Inc. Prepare the yearend Balance Sheet and Income Statementfor AQUA LLP at the end of the year. (Include Correct Headings)Accounts Payable $59,000 Land $78,000Accounts Receivable 15,000 UnearnedRevenue 45,000Advertising Expense13,000 UtilitiesExpense5,000Building 160,000 Rent Expense 13,000Cash 140,000 OperatingExpenses 23,000Supplies 10,000 CommonStock 240,000 Salary payable2,000 AccumulatedDepreciation 10,000Prepaid Insurance Expense 20,000 ServiceRevenue 170,000Interest Expense9,000 Retained Earnings ?

Lakeview, a calendar year C corporation, reports the following income and expenses in the current year: Income from operations $400,000 Expenses from operations $280,000 Dividends received (10% ownership) $30,000 On July 15t of the year, Lakeview made a cash contribution to a qualified charitable organization of $25,000 in cash (not included in any of the above items). What is Lakeview's charitable contribution deduction for the year? Answer: $ . The charitable contribution deduction for corporations is limited to 10% of their taxable income for the year computed without regard to the charitable contribution deduction, net operating loss or capital loss carrybacks, and dividends received deduction. In this course, we are not applying the changes under the CARES Act.