Homework Answers
Net income = Dividends - Decrease in Retained Earnings
Net income = $500 - $131
Net income = $369
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Ivan's, Inc., paid $500 in dividends and $595 in interest this past year. Common stock increased...
Lola Corp, has shareholders' equity of $128,600. The company has a total debt of $120.950, of...
Lola Corp, has shareholders' equity of $128,600. The company has a total debt of $120.950, of which 55 percent is payable in the next 12 months. The company also has net fixed assets of $174,320. What is the company's networking capital? Multiple Choice Ο Ο Ο Ο Ο 83370 Hoodoo Voodoo Co. has total assets of $64,650, net working capital of $19,525, owners' equity of $31,665, and long term debt of $22.235. What is the company's current assets? Multiple Choice...
Assets increased by $100,000 during the year. Liabilities increased by $30,000 during the year. Dividends for...
Assets increased by $100,000 during the year. Liabilities increased by $30,000 during the year. Dividends for the year were S50,000. Expenses for the year were $200,000. Capital contributions during the year were S25,000 Compute REVENUES for the year. Note: There are two types of equity: (I) Capital contributions (also called capital stock or paid-in capital) and (2) retained earnings. Capital contributions are amounts invested directly by the owners. Retained earnings represents the amount of assets created by profitable operations and...
For the past year, Jenn's Floral Arrangements had taxable income of $198,600, beginning common stock of...
For the past year, Jenn's Floral Arrangements had taxable income of $198,600, beginning common stock of $68,000, beginning retained earnings of $318,750, ending common stock of $71,500, ending retained earnings of $316,940, interest expense of $11,300, and a tax rate of 21 percent. What is the amount of dividends paid during the year?
Smashed Pumpkins Co. paid $136 in dividends and $568 in interest over the past year. The...
Smashed Pumpkins Co. paid $136 in dividends and $568 in interest over the past year. The company increased retained earnings by $474 and had accounts payable of $594. Sales for the year were $16,265 and depreciation was $720. The tax rate was 38 percent. What was the company's EBIT?
In 2016, Winn, Inc., issued $1 par common stock for $35 per share. No other common...
In 2016, Winn, Inc., issued $1 par common stock for $35 per share. No other common stock transactions occurred until July 31, 2018, when Winn acquired some of the issued shares for $30 per share and retired them. Which of the following statements correctly states an effect of this acquisition and retirement? 2018 net income is decreased. Additional paid-in capital is decreased. 2018 net income is increased. Retained earnings is increased.
Electronics World Inc. paid out $20.3 million in total common dividends and reported $113.7 million of...
Electronics World Inc. paid out $20.3 million in total common dividends and reported $113.7 million of retained earnings at year-end. The prior year's retained earnings were $80.7 million. What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. $
Electronics World Inc. paid out $26.4 million in total common dividends and reported $321.9 million of...
Electronics World Inc. paid out $26.4 million in total common dividends and reported $321.9 million of retained earnings at year-end. The prior year's retained earnings were $260.7 million. What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. $
Electronics World Inc. paid out $9.2 million in total common dividends and reported $121.2 million of...
Electronics World Inc. paid out $9.2 million in total common dividends and reported $121.2 million of retained earnings at year-end. The prior year's retained earnings were $78.8 million. What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. chool Titolo
The year-end 2017 balance sheet for Brad’s Copy, Inc. lists common stock ($1.20 par value) at...
The year-end 2017 balance sheet for Brad’s Copy, Inc. lists common stock ($1.20 par value) at $7,620,000 capital surplus at $86,543,000 and retained earnings at $218,546,000. On the 2016 year-end balance sheet, retained earnings is listed as $214,368,000. The firm’s net income in 2017 was $12,500,000. No stock was issued or repurchased in 2017. What were dividends per share paid by the firm in 2017 (rounded to the nearest cent)?
E3-21A (similar to) Question Help Beta Guard, Inc., began the year with $20,000 of common stock...
E3-21A (similar to) Question Help Beta Guard, Inc., began the year with $20,000 of common stock and $22,000 of retained earnings. On March 5, investors bought $10,000 of additional stock in the business. On June 22, the business purchased land valued at $40,000. The income statement for the year ended December 31, 2018, reported a net loss of $10,000. During this fiscal year, the business paid $250 for dividends each month. Read the requirements Requirement 1. Prepare Beta Guard's statement...
Lola Corp, has shareholders' equity of $128,600. The company has a total debt of $120.950, of which 55 percent is payable in the next 12 months. The company also has net fixed assets of $174,320. What is the company's networking capital? Multiple Choice Ο Ο Ο Ο Ο 83370 Hoodoo Voodoo Co. has total assets of $64,650, net working capital of $19,525, owners' equity of $31,665, and long term debt of $22.235. What is the company's current assets? Multiple Choice...
Assets increased by $100,000 during the year. Liabilities increased by $30,000 during the year. Dividends for the year were S50,000. Expenses for the year were $200,000. Capital contributions during the year were S25,000 Compute REVENUES for the year. Note: There are two types of equity: (I) Capital contributions (also called capital stock or paid-in capital) and (2) retained earnings. Capital contributions are amounts invested directly by the owners. Retained earnings represents the amount of assets created by profitable operations and...
Electronics World Inc. paid out $9.2 million in total common dividends and reported $121.2 million of retained earnings at year-end. The prior year's retained earnings were $78.8 million. What was the net income? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. chool Titolo
E3-21A (similar to) Question Help Beta Guard, Inc., began the year with $20,000 of common stock and $22,000 of retained earnings. On March 5, investors bought $10,000 of additional stock in the business. On June 22, the business purchased land valued at $40,000. The income statement for the year ended December 31, 2018, reported a net loss of $10,000. During this fiscal year, the business paid $250 for dividends each month. Read the requirements Requirement 1. Prepare Beta Guard's statement...
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