An electric device delivers a current of [tex]$15.0 A$[/tex] for 30 seconds. How many electrons flow through it?
Answer (2)
Calculate the total expenses: $600 + $5 , 100 + $310 = $6 , 010 .
Calculate the net income: $9 , 100 − $6 , 010 = $3 , 090 .
Calculate the change in owner's equity: $3 , 090 − $1 , 600 = $1 , 490 .
The net increase in owner's equity is $1 , 490 .
Explanation
Understanding the Problem We are given the expenses and revenue for Sandhill & Co. for the month of August. We need to determine the net increase in owner's equity. The expenses are: Rent = $600, Salaries and Wages = $5,100, and Utilities = $310. The revenue is $9,100, and the owner's drawings are $1,600.
Calculating Total Expenses First, we need to calculate the total expenses. We add the rent, salaries and wages, and utilities expenses: T o t a l E x p e n ses = R e n t + S a l a r i es an d Wa g es + U t i l i t i es T o t a l E x p e n ses = $600 + $5 , 100 + $310 = $6 , 010
Calculating Net Income Next, we calculate the net income by subtracting the total expenses from the revenue: N e t I n co m e = R e v e n u e − T o t a l E x p e n ses N e t I n co m e = $9 , 100 − $6 , 010 = $3 , 090
Calculating Change in Owner's Equity Now, we calculate the change in owner's equity by subtracting the owner's drawings from the net income: C han g e in Ow n e r ′ s Eq u i t y = N e t I n co m e − Ow n e r ′ s Dr a w in g s C han g e in Ow n e r ′ s Eq u i t y = $3 , 090 − $1 , 600 = $1 , 490
Final Answer The net increase in owner's equity is the change in owner's equity, which we calculated to be $1,490.
Examples
Understanding changes in owner's equity is crucial for assessing a business's financial health. For instance, if you run a small bakery, tracking your revenues, expenses (like ingredients and rent), and any personal withdrawals helps you determine if your business is truly profitable. Knowing that your owner's equity increased by, say, $1,490, indicates your business is growing and financially stable, allowing you to make informed decisions about investments or expansions. This insight ensures you're not just breaking even but building a sustainable and thriving business.
Approximately 2.81 x 10^21 electrons flow through an electric device that delivers a current of 15.0 A for 30 seconds. This is calculated by first determining the total charge in coulombs and then dividing by the charge of a single electron. The total charge is found to be 450.0 coulombs.
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