Baltimore Company reports total assets and total liabilities of
$231,000 and $120,000, respectively, at the conclusion,...
Baltimore Company reports total assets and total liabilities of
$231,000 and $120,000, respectively, at the conclusion, of its
first year of business. The company earned $79,500 during the first
year, and distributed $28,000 to shareholders as dividends. How
much did shareholders initially invest in the business?
Financial statements for AAR Company appear below:
AAR Company
Balance Sheet
December 31
Current assets:
...
Financial statements for AAR Company appear below:
AAR Company
Balance Sheet
December 31
Current assets:
Cash and marketable securities
$21,000
Accounts receivable, net
160,000
Inventory
300,000
Prepaid expenses
9,000
Total current assets
490,000
Noncurrent assets:
Plant & equipment, net
810,000
Total assets
$1,300,000
Current liabilities:
Accounts payable
$75,000
Accrued liabilities
25,000
Notes payable, short term
100,000
Total current
liabilities
200,000
Noncurrent liabilities:
Bonds payable
300,000...
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...
At the beginning of the current year, Snell Co. total assets
were $274,000 and its total...
At the beginning of the current year, Snell Co. total assets
were $274,000 and its total liabilities were $187,200. During the
year, the company reported total revenues of $119,000, total
expenses of $89,000 and dividends of $18,000. There were no other
changes in equity during the year and total assets at the end of
the year were $286,000. The company's debt ratio at the end of the
current year is:
Multiple Choice
52.8%.
68.3%.
146.00%.
65.5%.
34.5%.
Shep Company’s records show the following information for the
current year.
Beginning of year
End of...
Shep Company’s records show the following information for the
current year.
Beginning of year
End of year
Total assets
$
54,000
$
85,000
Total liabilities
$
24,000
$
37,000
Determine net income (loss) for each of the following separate
situations. (For all requirements, losses should be entered
with a minus sign.)
a. Additional common stock of $5,000 was issued
and dividends of $9,000 were paid during the current year.
b. Additional common stock of $15,500 was issued
and no dividends...
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...
At the beginning of its current fiscal year, Willie Corp.’s
balance sheet showed assets of $12,100...
At the beginning of its current fiscal year, Willie Corp.’s
balance sheet showed assets of $12,100 and liabilities of $6,100.
During the year, liabilities decreased by $1,000. Net income for
the year was $2,550, and net assets at the end of the year were
$6,550. There were no changes in paid-in capital during the year.
Required: Calculate the dividends, if any, declared during the
year. (Negative amounts should be indicated by a minus sign.)
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...
1.
If the
assets of a business increased $89,000 during a period of time and
its...
1.
If the
assets of a business increased $89,000 during a period of time and
its liabilities increased $67,000 during the same period, equity in
the business must have:
0.5分
A.
Increased
$22,000.
B.
Decreased
$22,000.
C.
Increased
$89,000.
D.
Decreased
$156,000.
E.
Increased
$156,000.
2.
If the
liabilities of a company increased $74,000 during a period of time
and equity in the company decreased $19,000 during the same period,
what was the effect on the assets?
0.5分
A.
Assets...
Kellman Company
Year 2
Year 1
Total current assets
$627,900
$564,400
Total investments
65,500
52,800
Total...
Kellman Company
Year 2
Year 1
Total current assets
$627,900
$564,400
Total investments
65,500
52,800
Total property, plant, and equipment
928,300
722,500
Total current liabilities
101,100
86,500
Total long-term liabilities
294,900
243,500
Preferred 9% stock, $100 par
97,700
97,700
Common stock, $10 par
549,800
549,800
Paid-in capital in excess of par—Common stock
67,100
67,100
Retained earnings
511,100
295,100
Using the balance sheets for Kellman Company, if net income is
$100,400 and interest expense is $34,800 for Year 2, and the...