On 12/31/2020, Heaton Industries Inc. reported retained earnings of $475,000 on its balance sheet, and it...
On 12/31/2020, Heaton Industries Inc. reported retained earnings of $475,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/2019, the company had reported $555,000 of retained earnings. No shares were repurchased during 2020. How much in dividends did Heaton pay during 2020?
Homework Answers
Opening retained earnings + Net Income – Dividends – Repurchase = Closing retained earnings
So, $555,000 + $172,500 – Dividends - $0 = $475,000
So, Dividends = $555,000 + $172,500 - $475,000
= $252,500
So, Dividend paid during 2020 is $252,500
Add Answer to:
On 12/31/2020, Heaton Industries Inc. reported retained earnings
of $475,000 on its balance sheet, and it...
NEED ANSWER ASAP a.) On 12/31/2020, Heaton Industries Inc. reported retained earnings of $225,000 on its...
NEED ANSWER ASAP a.) On 12/31/2020, Heaton Industries Inc. reported retained earnings of $225,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/2019, the company had reported $555,000 of retained earnings. No shares were repurchased during 2020. How much in dividends did Heaton pay during 2020? Select the correct answer. a. $502,445 b. $502,665 c. $502,500 d. $502,555 e. $502,610 ------------------------------------------- b.) EP Enterprises has...
On 12/31/17, Hitit Industries reported retained earnings of $1,000,000 on its balance sheet, and it reported...
On 12/31/17, Hitit Industries reported retained earnings of $1,000,000 on its balance sheet, and it reported that it had $235,000 of net income during the year. On its previous balance sheet, at 12/31/16, the company had reported $905,000 of retained earnings. No shares were repurchased during 2017. How much in dividendsdid the firm pay during 2017?
Exercise 10-76 Retained Earnings The December 31, 2020 comparative balance sheet of Smith Industries includes the...
Exercise 10-76 Retained Earnings The December 31, 2020 comparative balance sheet of Smith Industries includes the following stockholders' equity section: 2020 2019 Common stock, $2 par, 80,000 shares authorized, 60,000 shares issued and outstanding $120,000 $120,000 Additional paid-in capital—common stock 371,800 371,800 Total capital stock $491,800 $491,800 Retained earnings 173,000 116,000 Total equity $664,800 $607,800 Required: During 2020 Smith paid dividends of $0.50 per share. What was Smith's net income for 2020? Net Income $
1. Shener Software's current balance sheet shows total common equity of $100,000,000. The company has 5,000,000...
1. Shener Software's current balance sheet shows total common equity of $100,000,000. The company has 5,000,000 shares of stock outstanding, and they sell at a price of $200 per share. By how much do the firm's market and book values per share differ? 2. El Taco Tote's balance sheet showed total current assets of $5,500, all of which were required in operations. Its current liabilities consisted of $1,000 of accounts payable, $1,000 short-term notes payable to the bank, and $500...
pls answer 6 to 9. pls show the work in details. In-Class Exercise - Accounting Review...
pls answer 6 to 9. pls show the work in details.
In-Class Exercise - Accounting Review Chapter 2 - Financial Statements, Cash Flow, and Taxes 1. Frederickson Office Supplies recently reported $12,500 of sales, $7.250 of operating costs other than depreciation, and $1,250 of depreciation. The company had no amortization charges and no non- operating income. It had $8,000 of bonds outstanding that carry a 7.5% interest rate, and its federal-plus- state income tax rate was 40%. How much was...
In-Class Exercise - Accounting Review Chapter 2- Financial Statements. Cash Flow, and Taxes Frederickson Office Supplies...
In-Class Exercise - Accounting Review Chapter 2- Financial Statements. Cash Flow, and Taxes Frederickson Office Supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation, and $1,250 of depreciation. The company had no amortization charges and no non- operating income. It had $8,000 of bonds outstanding that cary a 7.5 % interest rate, and its federal-plus- state income tax rate was 40 % . How much was the firm's taxable income, or earnings before taxes (EBT)? 1....
At December 31, 2019, the balance of Glasgow Ltd.’s retained earnings account was $450,000. During 2020,...
At December 31, 2019, the balance of Glasgow Ltd.’s retained earnings account was $450,000. During 2020, the company had the following transactions: Acquired 5,000 treasury shares at $75 per share. The shares are no par value and had originally been issued for $65 per share. There had been no previous treasury share transactions. Net income for 2020 was $400,000. Sold the 5,000 treasury shares at $80 per share. What is the balance in retained earnings at December 31, 2020? $850,000...
etermining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet...
etermining Cash Flows from Financing Activities Nichols Inc. reported the following amounts on its balance sheet at the end of 2019 and 2018 for equity: 12/31/2019 12/31/2018 Common stock $210,000 $135,000 Retained earnings 495,300 412,800 Required: Assume that Nichols did not retire any stock during 2019, it reported $105,610 of net income for 2019, and any dividends declared were paid in cash. Determine the amounts Nichols would report in the financing section of the statement of cash flows. Issuance of...
Your Company's balance sheet reported $95,000 of common stock and retained earnings of $30,000 on January...
Your Company's balance sheet reported $95,000 of common stock and retained earnings of $30,000 on January 1, 2019. Retained Earnings on the December 31, 2019 balance sheet was $100,000 and the company paid a $15,000 dividend during the year. How much was net income for 2019?
Mady Entertainment Inc. showed the following equity account balances on the December 31, 2019, balance sheet:...
Mady Entertainment Inc. showed the following equity account
balances on the December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 550,000 shares
issued and outstanding
$
3,850,000
Retained earnings
2,580,000
During 2020, the following selected transactions occurred:
Apr.
1
Repurchased and retired 150,000 common shares at $7.60 per
share; this is the first retirement recorded by Mady.
June
1
Declared a 2:1 share split to shareholders of record on June
12, distributable June 30.
Dec.
1
Declared a 10%...
pls answer 6 to 9. pls show the work in details.
In-Class Exercise - Accounting Review Chapter 2 - Financial Statements, Cash Flow, and Taxes 1. Frederickson Office Supplies recently reported $12,500 of sales, $7.250 of operating costs other than depreciation, and $1,250 of depreciation. The company had no amortization charges and no non- operating income. It had $8,000 of bonds outstanding that carry a 7.5% interest rate, and its federal-plus- state income tax rate was 40%. How much was...
In-Class Exercise - Accounting Review Chapter 2- Financial Statements. Cash Flow, and Taxes Frederickson Office Supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation, and $1,250 of depreciation. The company had no amortization charges and no non- operating income. It had $8,000 of bonds outstanding that cary a 7.5 % interest rate, and its federal-plus- state income tax rate was 40 % . How much was the firm's taxable income, or earnings before taxes (EBT)? 1....
Mady Entertainment Inc. showed the following equity account
balances on the December 31, 2019, balance sheet:
Common shares, unlimited authorized shares, 550,000 shares
issued and outstanding
$
3,850,000
Retained earnings
2,580,000
During 2020, the following selected transactions occurred:
Apr.
1
Repurchased and retired 150,000 common shares at $7.60 per
share; this is the first retirement recorded by Mady.
June
1
Declared a 2:1 share split to shareholders of record on June
12, distributable June 30.
Dec.
1
Declared a 10%...
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 10 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 10 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 10 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 10 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 10 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 10 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 10 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 10 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 10 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 10 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 10 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 10 months ago