As of December 31, 2014 assets were $20, liabilities were $12
and paid-in-capital was $1. There...
As of December 31, 2014 assets were $20, liabilities were $12
and paid-in-capital was $1. There was no treasury stock or
accumulated other comprehensive income at either the beginning or
ending of 2015. During the year revenues were $40, gains (net of
losses) were $1, paid-in-capital increased by $2 and the company
paid out dividends of $4. At the end of the year, equity was $22
and total liabilities were $20.
10) What was the asset turnover for the year...
Assume beginning assets of $60,000, ending assets of
$80,000, a $12,000 decrease in liabilities, and ending...
Assume beginning assets of $60,000, ending assets of
$80,000, a $12,000 decrease in liabilities, and ending
stockholders' equity of $50,000. If dividends were twice the
capital stock issuances of $20,000, how much was net income for the
period?
Balance Sheet Calculations
Fermer Company's balance sheet information at the end of 2016
and 2017 is...
Balance Sheet Calculations
Fermer Company's balance sheet information at the end of 2016
and 2017 is as follows:
2016
2017
Total shareholders' equity
$ (a)
$100,700
Accumulated other comprehensive income
4,800
5,000
Current liabilities
(b)
9,800
Intangible assets
12,600
12,000
Property, plant, and equipment (net)
(c)
87,500
Current assets
21,000
(h)
Total contributed capital
51,000
(i)
Long-term liabilities
(d)
30,200
Retained earnings
42,900
(j)
Total assets
(e)
(k)
Common stock, $10 par
(f)
(l)
Working capital
9,900
10,200
Additional paid-in...
Use the following information to answer questions 1 - 13 As of
December 31, 2014 assets...
Use the following information to answer questions 1 - 13 As of
December 31, 2014 assets were $20, liabilities were $12 and
paid-in-capital was $1. There was no treasury stock or accumulated
other comprehensive income at either the beginning or ending of
2015. During the year revenues were $40, gains (net of losses) were
$1, paid-in-capital increased by $2 and the company paid out
dividends of $4. At the end of the year, equity was $22 and total
liabilities were...
At the start of the year, Acme Company had liabilities of $49452
and capital stock of...
At the start of the year, Acme Company had liabilities of $49452
and capital stock of $151007. At the end of the year, retained
earnings amounted to $134544. Net income for the year was $44671
45,000, and $12607 15,000 of dividends were declared and paid.
Compute retained earnings at the beginning of the year.
Oriole
Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$357,000...
Oriole
Medical
Comparative Balance Sheet
As of December 31
2016
2015
Assets
Current assets
Cash
$357,000
$417,400
Accounts receivable, net
1,065,600
776,450
Inventory
729,000
681,050
Other current assets
386,000
247,000
Total current assets
2,537,600
2,121,900
Property, plant, &
equipment, net
8,574,855
8,389,815
Total assets
$11,112,455
$10,511,715
Liabilities and
Stockholders’ Equity
Current liabilities
$3,123,000
$2,846,100
Long-term debt
3,702,650
3,892,700
Total liabilities
6,825,650
6,738,800
Preferred stock, $5 par
value
53,900
53,900
Common stock, $0.25 par
value
195,000
103,850
Retained earnings
4,037,905
3,615,165...
Analyzing Transactions Using the Financial Statement Effects
Template
Hanlon Advertising Company began the current month with...
Analyzing Transactions Using the Financial Statement Effects
Template
Hanlon Advertising Company began the current month with the
following balance sheet.
Cash
$ 80,000
Liabilities
$ 70,000
Noncash assets
135,000
Contributed capital
110,000
Earned capital
35,000
Total assets
$215,000
Total liabilities and equity
$215,000
Following are summary transactions that occurred during the
current month.
The company purchased supplies for $5,000 cash; none were used
this month.
Services of $2,500 were performed this month on credit.
Services were performed for $10,000 cash...
Prat Corp. started the 2018 accounting period with $38,000 of
assets (all cash), $16,000 of liabilities,...
Prat Corp. started the 2018 accounting period with $38,000 of
assets (all cash), $16,000 of liabilities, and $13,000 of common
stock. During the year, the Retained Earnings account increased by
$15,050. The bookkeeper reported that Prat paid cash expenses of
$30,000 and paid a $2,800 cash dividend to the stockholders, but
she could not find a record of the amount of cash that Prat
received for performing services. Prat also paid $11,000 cash to
reduce the liability owed to the...