Homework Answers
Beginning balance of Retained Earnings = $670,000
Add: Net Income = $100,000
Less: Ending balance of Retained Earnings = ($560,000)
Dividends paid = $210,000
Total Dividends paid in 2019 is $210,000
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Afirm's year and retained a ng balance are 5670,000 $560 000 for 2018 2019 respectively. The...
A firm's year-end retained earnings balances are $670,000 and $780,000, for 2018 and 2019 respectively. The...
A firm's year-end retained earnings balances are $670,000 and $780,000, for 2018 and 2019 respectively. The firm paid $10,000 in dividends in 2019. The firm's net profit after taxes in 2019 was $110,000 -$100,000 $100,000 -$110,000
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December...
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 Cash $ 180,000 Accounts payable $ 360,000 Receivables 360,000 Notes payable 156,000 Inventories 720,000 Line of credit Total current assets $1,260,000 Accruals 180,000 Fixed assets 1,440,000 Total current liabilities $ 696,000 Common stock 1,800,000 Retained earnings 204,000 Total assets $2,700,000 Total liabilities and equity $2,700,000 Income Statement for December 31, 2018 Sales $3,600,000 Operating costs 3,279,720 EBIT $ 320,280 Interest 18,280 Pre-tax...
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December...
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 $360,000 156,000 Cash Receivables Inventories Total current assets Fixed assets $ 180,000 Accounts payable 360,000 Notes payable 720,000 Line of credit $1,260,000 Accruals 1,440,000 Total current Kabilities Common stock Retained earnings $2,700,000 Total liabilities and equity 180.000 $ 696.000 1,800,000 204,000 Total assets $2.700.000 Income Statement for December 31, 2018 Sales Operating costs EBIT Interest Pre-tax earings Taxes (40%) Net income Dividends...
2018 IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 83,...
2018 IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 83, 300 Accounts receivable, net 75,500 Inventory 70,800 Prepaid expenses 5, 100 Total current assets 234, 700 Equipment 131,000 Accum. depreciation-Equipment (30,500) Total assets $335, 200 Liabilities and Equity Accounts payable $ 32,000 Wages payable 6,700 Income taxes payable 4,100 Total current liabilities 42,800 Notes payable (long term) 31,400 Total liabilities 74, 200 Equity Common stock, $5 par value 234,000 Retained earnings 27,000 Total liabilities...
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December...
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 Cash $ 180,000 Accounts payable $ 360,000 Receivables 360,000 Notes payable 156,000 Inventories 720,000 Line of credit Total current assets $1,260,000 Accruals 180,000 Fixed assets 1,440,000 Total current liabilities $ 696,000 Common stock 1,800,000 Retained earnings 204,000 Total assets $2,700,000 Total liabilities and equity $2,700,000 Income Statement for December 31, 2018 Sales Operating costs $3,600,000 3,279,720 $ 320,280 18,280 EBIT Interest Pre-tax...
Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December 31, 2018...
Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit 0 Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $ 9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12,860 Total assets $29,160 Total liabilities and equity $29,160 Income Statement for January 1 - December 31, 2018 (Thousands of...
Financing Deficit Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December...
Financing Deficit Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit 0 Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $ 9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12,860 Total assets $29,160 Total liabilities and equity $29,160 Income Statement for January 1 - December 31, 2018...
Financing Deficit Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December...
Financing Deficit Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit 0 Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $ 9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12,860 Total assets $29,160 Total liabilities and equity $29,160 Income Statement for January 1 - December 31, 2018...
BARCELONA INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 2018 Assets Cash $ 86,300...
BARCELONA INC.
Comparative Balance Sheets
June 30, 2019 and 2018
2019
2018
Assets
Cash
$
86,300
$
41,700
Accounts receivable, net
78,000
61,000
Inventory
66,000
92,000
Prepaid expenses
5,000
6,300
Total current assets
235,300
201,000
Equipment
153,000
142,000
Accum. depreciation—Equipment
(39,000
)
(13,000
)
Total assets
$
349,300
$
330,000
Liabilities and Equity
Accounts payable
$
30,000
$
36,000
Wages payable
8,000
19,000
Income taxes payable
3,600
4,000
Total current liabilities
41,600
59,000
Notes payable (long term)
38,000
75,000
Total...
30 eBook Financing Deficit Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as...
30 eBook Financing Deficit Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12.860 Total assets Total liabilities and equity $29.160 Income Statement for January 1 - December 31, 2018 (Thousands...
A firm's year-end retained earnings balances are $670,000 and $780,000, for 2018 and 2019 respectively. The firm paid $10,000 in dividends in 2019. The firm's net profit after taxes in 2019 was $110,000 -$100,000 $100,000 -$110,000
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 Cash $ 180,000 Accounts payable $ 360,000 Receivables 360,000 Notes payable 156,000 Inventories 720,000 Line of credit Total current assets $1,260,000 Accruals 180,000 Fixed assets 1,440,000 Total current liabilities $ 696,000 Common stock 1,800,000 Retained earnings 204,000 Total assets $2,700,000 Total liabilities and equity $2,700,000 Income Statement for December 31, 2018 Sales $3,600,000 Operating costs 3,279,720 EBIT $ 320,280 Interest 18,280 Pre-tax...
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 $360,000 156,000 Cash Receivables Inventories Total current assets Fixed assets $ 180,000 Accounts payable 360,000 Notes payable 720,000 Line of credit $1,260,000 Accruals 1,440,000 Total current Kabilities Common stock Retained earnings $2,700,000 Total liabilities and equity 180.000 $ 696.000 1,800,000 204,000 Total assets $2.700.000 Income Statement for December 31, 2018 Sales Operating costs EBIT Interest Pre-tax earings Taxes (40%) Net income Dividends...
2018 IKIBAN INC. Comparative Balance Sheets June 30, 2019 and 2018 2019 Assets Cash $ 83, 300 Accounts receivable, net 75,500 Inventory 70,800 Prepaid expenses 5, 100 Total current assets 234, 700 Equipment 131,000 Accum. depreciation-Equipment (30,500) Total assets $335, 200 Liabilities and Equity Accounts payable $ 32,000 Wages payable 6,700 Income taxes payable 4,100 Total current liabilities 42,800 Notes payable (long term) 31,400 Total liabilities 74, 200 Equity Common stock, $5 par value 234,000 Retained earnings 27,000 Total liabilities...
Financing Deficit Garlington Technologies Inc.'s 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 Cash $ 180,000 Accounts payable $ 360,000 Receivables 360,000 Notes payable 156,000 Inventories 720,000 Line of credit Total current assets $1,260,000 Accruals 180,000 Fixed assets 1,440,000 Total current liabilities $ 696,000 Common stock 1,800,000 Retained earnings 204,000 Total assets $2,700,000 Total liabilities and equity $2,700,000 Income Statement for December 31, 2018 Sales Operating costs $3,600,000 3,279,720 $ 320,280 18,280 EBIT Interest Pre-tax...
BARCELONA INC.
Comparative Balance Sheets
June 30, 2019 and 2018
2019
2018
Assets
Cash
$
86,300
$
41,700
Accounts receivable, net
78,000
61,000
Inventory
66,000
92,000
Prepaid expenses
5,000
6,300
Total current assets
235,300
201,000
Equipment
153,000
142,000
Accum. depreciation—Equipment
(39,000
)
(13,000
)
Total assets
$
349,300
$
330,000
Liabilities and Equity
Accounts payable
$
30,000
$
36,000
Wages payable
8,000
19,000
Income taxes payable
3,600
4,000
Total current liabilities
41,600
59,000
Notes payable (long term)
38,000
75,000
Total...
30 eBook Financing Deficit Stevens Textile Corporation's 2018 financial statements are shown below: Balance Sheet as of December 31, 2018 (Thousands of Dollars) Cash $ 1,080 Accounts payable $ 4,320 Receivables 6,480 Accruals 2,880 Inventories 9,000 Line of credit Total current assets $16,560 Notes payable 2,100 Net fixed assets 12,600 Total current liabilities $9,300 Mortgage bonds 3,500 Common stock 3,500 Retained earnings 12.860 Total assets Total liabilities and equity $29.160 Income Statement for January 1 - December 31, 2018 (Thousands...
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