Question

if we change "expenses" number to $30,000 and "dividend" number to "15,000", What would be the...

if we change "expenses" number to $30,000 and "dividend" number to "15,000", What would be the balance of "Total assets" ?

Income Statement of **, year 2017 Balance Sheet of **, as of 12/31/2017
Revenues $100,000 Asset Liabilities
Minus Expenses $40,000 Cash 50,000 Long-term Debt 60,000
Net Income 60,000 Inventory 40,000 Equity
Equitment 150,000 Owners' equity 180,000
Total Assets 240,000 Total Liabilities and owners' equity
240,000
Retained Earnings Statement for **, year 2017 Statement of Cash flow for **, for year 2017
Beginning owners' Equity 120,000
Add: Net income 60,000 Cash from Operating activities (O) 19,000
Minus: Dividend (withdrawal) 0 Cash from investing activities (I) -23,000
Ending Owners' Equity 180,000 Cash from financing activities (F) 24,000
Total change in cash (O+I+F) 20000
Beginning balance of cash 30,000
Ending balance of cash 50,000
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is the earnings per share? Orange Inc.’s common stock sold for $2.75 per share at...
What is the earnings per share? Orange Inc.’s common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year’s financial statements: Ending Balance Beginning Balance Cash $35,000 $30,000 Accounts receivable $60,000 $50,000 Inventory $55,000 $60,000 Current assets $ 150,000 $ 140,000 Total assets $450,000 $460,000 Current liabilities $60,000 $40,000 Total liabilities $ 130,000 $ 120,000...
1 Identify the correct components of the income statement. revenues, losses, expenses, and gains assets, liabilities,...
1 Identify the correct components of the income statement. revenues, losses, expenses, and gains assets, liabilities, and owner’s equity revenues, expenses, investments by owners, distributions to owners assets, liabilities, and dividends 2. The balance sheet lists which of the following? assets, liabilities, and owners’ equity revenues, expenses, gains, and losses assets, liabilities, and investments by owners revenues, expenses, gains, and distributions to owners 3.  The accounting equation is expressed as ________. Assets + Liabilities = Owner’s Equity Assets – Noncurrent Assets...
left column is for 2012 and right column is for 2013     Assets   2012    2013 Cash...
left column is for 2012 and right column is for 2013     Assets   2012    2013 Cash ..................................................................................................    $ 20,000 $ 60,000 Accounts receivable (net) .................................................................        30,000      50,000 Inventory ...........................................................................................        20,000      30,000 Property, plant and equipment (net) .................................................      170,000 220,000       Total assets .................................................................................    $240,000   $360,000   Liabilities Current liabilities ..............................................................................    $ 40,000 $ 60,000 Long-term liabilities .........................................................................        70,000 100,000   Owners’ Equity Common Stock .................................................................................      100,000    120,000 Retained Earnings .............................................................................      30,000      80,000       Total liabilities and owners’ equity ............................................    $240,000 $360,000 Net sales ............................................................................................                     $500,000 Cost of goods sold ............................................................................                       280,000 Gross profit...
Balance sheet December 31 Assets 2007 2006 Cash $25,000 $40,000 Short term investments 15,000 60,000 Accounts...
Balance sheet December 31 Assets 2007 2006 Cash $25,000 $40,000 Short term investments 15,000 60,000 Accounts receivable 50,000 30,000 Inventory 50,000 70,000 Property, plant and equipment (net) 160,000 200,000 Total assets $300,000 $400,000 Liabilities and stockholders equity    Accounts payable $20,000 $30,000 Short term notes payable 40,000 90,000 Bonds payable 80,000 160,000 Common stock 60,000 45,000 Retained earnings 100,000 75,000 Total liabilities and stockholders equity $300,000 $400,000 Income statement (for the year ended December 31, 2007) Net sales $360,000 Cost...
Balance sheet December 31 Assets 2007 2006 Cash $25,000 $40,000 Short term investments 15,000 60,000 Accounts...
Balance sheet December 31 Assets 2007 2006 Cash $25,000 $40,000 Short term investments 15,000 60,000 Accounts receivable 50,000 30,000 Inventory 50,000 70,000 Property, plant and equipment (net) 160,000 200,000 Total assets $300,000 $400,000 Liabilities and stockholders equity    Accounts payable $20,000 $30,000 Short term notes payable 40,000 90,000 Bonds payable 80,000 160,000 Common stock 60,000 45,000 Retained earnings 100,000 75,000 Total liabilities and stockholders equity $300,000 $400,000 Income statement (for the year ended December 31, 2007) Net sales $360,000 Cost...
Markus Company’s common stock sold for $2.75 per share at the end of this year. The...
Markus Company’s common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year’s financial statements:      Ending Balance Beginning Balance Cash $ 35,000 $ 30,000 Accounts receivable $ 60,000 $ 50,000 Inventory $ 55,000 $ 60,000 Current assets $ 150,000 $ 140,000 Total assets $ 450,000 $ 460,000 Current liabilities $ 60,000 $ 40,000 Total liabilities...
Financial Analysis Questions Balance Sheet Health Valley Company Years ending December 31, 2001 and 2002 2001...
Financial Analysis Questions Balance Sheet Health Valley Company Years ending December 31, 2001 and 2002 2001 2002 Cash $ 20,000 $ 12,000 Accounts receivable 40,000 48,000 Inventory 60,000 50,000 Total current assets $120,000 $110,000 Gross fixed assets $400,000 $450,000 (Accumulated depreciation) (120,000) (150,000) Net fixed assets $280,000 $300,000 Total assets $400,000 $410,000 Notes payable 5,000 10,000 Accounts payable to suppliers 25,000 30,000 Accruals 10,000 5,000 Total current liabilities 40,000 45,000 Long-term debt 100,000 140,000 Common stock ($2.00 par value) 60,000...
Income Statement Sales revenues 760,500 cost of goods sold 225,000 Operating expenses (excluding depreciation) 166,500 Depreciation...
Income Statement Sales revenues 760,500 cost of goods sold 225,000 Operating expenses (excluding depreciation) 166,500 Depreciation expenses 13,500 Loss on disposal of equipment 4,500 Interest expenses 63,000 Total operating expenses (472,500) income before taxes 288,000 income tax expense (70,500) net income 217,500 Statement of financial Positions 31/12/2019 31/12/2018 Assets Cash 82,500 49,500 accounts receivables 30,000 45,000 inventory 22,500 15,000 prepaid insurance 7,500 1,500 Land 195,000 30,000 Building 240,000 60,000 less: accumulated depreciation- Building (16,500) (7,500) Equipment 40,500 15,000 less: accumulated...
The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31, ________________________________________________________...
The financial statements of Elcamino Company appear below: ELCAMINO COMPANY Comparative Balance Sheet December 31, ________________________________________________________ Assets                                                                                                        2017 2016    Cash ..................................................................................................    $ 25,000................................................................................................ $ 40,000 Debt investments ..............................................................................       20,000 60,000 Accounts receivable (net) .................................................................       50,000 30,000 Inventory ...........................................................................................       140,000 170,000 Property, plant and equipment (net) .................................................        170,000.............................................................................................. 200,000       Total assets ................................................................................       $405,000 $500,000 Liabilities and stockholders' equity Accounts payable .............................................................................    $ 25,000................................................................................................ $ 30,000 Short-term notes payable .................................................................       40,000...
Markus Company’s common stock sold for $2.75 per share at the end of this year. The...
Markus Company’s common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year’s financial statements Ending    Balance    Beginning Balance      Cash $ 35,000    $ 30,000     Accounts receivable $ 60,000    $ 50,000     Inventory $ 55,000    $ 60,000     Current assets $ 150,000    $ 140,000     Total assets $ 450,000    $ 460,000     Current liabilities $ 60,000    $...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT