answersLogoWhite

0

What else can I help you with?

Continue Learning about Accounting

How much does an owner of a guitar store make per year?

It depends on how their sales are.It could me 50 thousand or 10 thousand .


What is owners savings?

An owner's savings account is also known as the owner's equity account. The owner's equity account keeps track of deposits and withdrawals to the account, and how much principal the owner has invested in the business.


How much do an owner get a year?

Well, honey, that all depends on what kind of owner we're talking about. If you're a small business owner, you might be scraping by on a modest salary. But if you're the owner of a successful company, you could be raking in millions. So, to answer your question, an owner can get anywhere from peanuts to a whole dang peanut farm in a year.


What is the entry to close an owners withdrawal account?

To close an owner's withdrawal account, you would typically make a journal entry that debits the owner's capital account and credits the owner's withdrawal account. This reflects the transfer of the withdrawn amount back into the owner's capital, effectively zeroing out the withdrawal account. For example, if the owner's withdrawal account has a balance of $5,000, the entry would be: Debit Owner's Capital $5,000 and Credit Owner's Withdrawals $5,000.


How much does owner of aircondition company make?

The income of an air conditioning company owner can vary widely based on factors such as location, business size, and market demand. On average, small business owners in this industry might earn between $50,000 to $150,000 annually, while larger companies can generate significantly higher profits, potentially exceeding $200,000 or more. Ultimately, the owner's earnings will depend on the company's profitability, operational efficiency, and management skills.