Toth Company had the following assets and liabilities on the
dates indicated. December 31 Total Assets...
Toth Company had the following assets and liabilities on the
dates indicated. December 31 Total Assets Total Liabilities 2016
$469,000 $216,000 2017 $549,000 $266,000 2018 $679,000 $366,000
Toth began business on January 1, 2016, with an investment of
$95,000 from stockholders. From an analysis of the change in
stockholders’ equity during the year, compute the net income (or
loss) for:
(a) 2016, assuming Toth paid $25,000 in dividends for the
year.
Net income (loss) for 2016:
(b) 2017, assuming stockholders...
on january 1, 2017, Po Consulting had total assets of $500,000
and total liabilities of $300,000....
on january 1, 2017, Po Consulting had total assets of $500,000
and total liabilities of $300,000. Now, on december 31, 2017, Po
has total liabilities of $320,000 and total stockholders equity of
$225,000. Po paid dividends of $20,000 during 2005. what was Po's
net income (loss) for 2017? a. $45,000 b. -$45,000 c. $25,000 d.
-$25,000 e. $0
The total assets and liabilities of Robot Company at January 1
and December 31, 2018, are...
The total assets and liabilities of Robot Company at January 1
and December 31, 2018, are presented below.
January
1
December
31
Assets
$76,000
$112,000
Liabilities
26,000
28,800
Determine the amount of net income or loss for 2018, applying
each of the following assumptions concerning the additional
issuance of stock and dividends paid by the firm. Each case is
independent of the others. I will go over scenario 1 below. Your
discussion assignment for the week is to...
As of December 31, 2016, Flowers Company had total assets of
$30,000, total liabilities of $9,000,...
As of December 31, 2016, Flowers Company had total assets of
$30,000, total liabilities of $9,000, and common stock of $15,000.
The company’s 2016 income statement contained revenue of $5,000 and
expenses of $3,000. The 2016 statement of changes in stockholder’s
equity stated that $400 of dividends were paid to investors.
a. Determine the before-closing balance in the Retained Earnings
account on December 31, 2016.
B. Determine the after-closing balance in the Retained Earnings
account on December 31, 2016.
Kappa ?Designs, Inc. has the following?
data:??
Kappa Designs, Inc.
Comparative Balance Sheet
December 31, 2018...
Kappa ?Designs, Inc. has the following?
data:??
Kappa Designs, Inc.
Comparative Balance Sheet
December 31, 2018 and 2017
2018
2017
Assets
Total Current Assets
$43,452
$64,460
Property, Plant, and Equipment, Net
210,444
146,500
Other Assets
30,104
82,040
Total Assets
$284,000
$293,000
Liabilities
Total Current Liabilities
$46,860
$44,536
Long-term Debt
108,204
200,705
Total Liabilities
155,064
245,241
Stockholders' Equity
Total Stockholders' Equity
128,936
47,759
Total Liabilities and Stockholders' Equity
$284,000
$293,000
Perform a vertical analysis of Kappa ?Designs' balance sheet for
each...
At the beginning of the year, Canon Company had total assets of
$870,000 and total liabilities...
At the beginning of the year, Canon Company had total assets of
$870,000 and total liabilities of $500,000. Answer the following
questions.
(a) If total assets increased $150,000 during the
year and total liabilities decreased $80,000, what is the amount of
stockholders’ equity at the end of the year?
Stockholders’ equity $__________
(b) During the year, total liabilities
increased $100,000 and stockholders’ equity decreased $66,000. What
is the amount of total assets at the end of the year?
Total Assets...
The balance sheet for December 31, 2018, December 31, 2017, and
the income statement for the...
The balance sheet for December 31, 2018, December 31, 2017, and
the income statement for the year ended December 31, 2018, for
Rocket Company follows.
Rocket Company
Balance Sheet
December 31, 2018 and 2017
2018
2017
Assets
Cash
$ 25,000
$ 20,000
Accounts receivable, net
60,000
70,000
Inventory
80,000
100,000
Land
50,000
50,000
Building and equipment
130,000*
115,000
Accumulated depreciation
(85,000)
(70,000)
Total assets
$260,000
$285,000
Liabilities and Stockholders' Equity
Accounts payable
$ 30,000
$ 35,000
Income taxes payable
4,000 ...
At the beginning of the year, Sarasota Company had total assets
of $942,000 and total liabilities...
At the beginning of the year, Sarasota Company had total assets
of $942,000 and total liabilities of $597,000. Answer the following
questions.
(a) If total assets increased $130,000 during the year and total
liabilities decreased $88,000, what is the amount of stockholders’
equity at the end of the year? Stockholders’ equity (b) During the
year, total liabilities increased $128,000 and stockholders’ equity
decreased $86,000. What is the amount of total assets at the end of
the year? Total assets $...
At the beginning of 2011, Bonds Company had total assets of
$650,000 and total liabilities of...
At the beginning of 2011, Bonds Company had total assets of
$650,000 and total liabilities of $390,000. Answer each of the
following questions.
1. If total assets increased $60,000 and stockholders' equity
decreased $90,000 during the year, determine the amount of total
liabilities at the end of the year.
2. During the year, total liabilities decreased $75,000 and
stockholders' equity increased $50,000. Compute the amount of total
assets at the end of the year.
3. If total assets decreased $100,000...
Waterway Corporation
Balance Sheet
December 31, 2016 and December 31, 2017
2016
Dr.
Cr.
2017
Assets...
Waterway Corporation
Balance Sheet
December 31, 2016 and December 31, 2017
2016
Dr.
Cr.
2017
Assets
Cash
$120,900
$274,350
Accounts Receivable
286,750
279,000
Inventory
185,000
185,000
Investments
114,700
80,600
Equipment
372,000
461,900
Accummulated Depreciation
(137,950)
(164,300)
Total
$941,400
$1,116,550
Liabilities and Stockholders' Equity
Accounts Payable
$234,050
$207,700
Bonds Payable
185,000
130,000
Common Stock
248,000
303,000
Retained Earnings
274,350
475,850
Total
$941,400
-
-
$1,116,550
Additional Information:
1. Net income for 2017
$248,000
2. Investments were sold at a loss of...