Homework Answers
Answer: Option ( B ) $117,000
Explanation:
Net Income = Revenue - Expenses
Net Income = $782,000 - $665,000
Net Income = $117,000
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Concord Corporation began the year by issuing 577500 of common stock for cash. The company recorded...
Splish Brothers Inc. began the year by issuing $109000 of common stock for cash. The company...
Splish Brothers Inc. began the year by issuing $109000 of common stock for cash. The company recorded revenues of $1141000, expenses of $953000, and paid dividends of $57000. What was Splish's net income for the year? a)$188000 b)$297000 c)$131000 d)$240000
Question 6 2 pt Henderson Company began the year with retained earnings of $100,000. During 2025,...
Question 6 2 pt Henderson Company began the year with retained earnings of $100,000. During 2025, the company issued $80,000 of common stock for cash. The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000. What was Finney's net income for the year 2025? $60,000 $140,000 $180,000 $100,000
19 Concord Company engaged in the following transactions during Year 1, its first year of operations....
19 Concord Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions 1) Acquired $3,400 cash from Issuing common stock. 2) Borrowed $2.400 from a bank. 3) Earned $3,300 of revenues. 4) Incurred $2,440 in expenses. 5) Pald dividends of $440. 1.66 points 01:07:42 Concord Company engaged in the following transactions during Year 2: 1) Acquired an additional $700 cash from the issue of common stock. 2) Repaid $1,440 of...
On January 1, 2020, Concord Corporation had cash and common shares of $80,000. At that date, the company had no other asset, liability, or shareholders’ equity balances. On January 2, 2020, Concord Corporation paid $60,000 cash for equity securities that
On January 1, 2020, Concord Corporation had cash and common shares of $80,000. At that date, the company had no other asset, liability, or shareholders’ equity balances. On January 2, 2020, Concord Corporation paid $60,000 cash for equity securities that it designated as fair value through other comprehensive income (FV-OCI) investments. During the year, Concord Corporation received non-taxable cash dividends of $26,000 and had an unrealized holding gain of $21,000 (net of tax) on these securities. Determine the following amounts...
Henson Company began the year with retained earnings of $350,000. During the year, the company recorded...
Henson Company began the year with retained earnings of $350,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $905. What was Henson's retained earnings at the end of the year?
Question 1 Concord Corporation began operations on January 1,2017. The following information is available for Concord...
Question 1 Concord Corporation began operations on January 1,2017. The following information is available for Concord Corporation on December 31,2017 Accounts payable 8,500 Notes payable 14,000 Accounts receivable 5,500 Rent expense Advertising expense 4,280 Retained earnings Cash Common stock Dividends Equipment 13,500 6,600 Service revenue 32,000 18,500 Supplies 6000 Supplies expense 1,420 5,400 30,300 Prepare an income statement for Concord Corporation. Concord Corporation Income Statement For the Month Ended December 31, 2017 For the Year Ended December 31, 2017 December...
Multiple Choice Question 121 Blue Spruce Corp, began the year with retained earnings of $121000. During...
Multiple Choice Question 121 Blue Spruce Corp, began the year with retained earnings of $121000. During 2022, the company issued $78500 of common stock for cash. The company recorded revenues of $749000, expenses of $672000, and paid dividends of $45000. What was Blue's net income for the year 2022? $110500 $77000 $155500 $32000 Click if you would like to Show Work for this question: Open Show Work
answer each question with an explnation of each answer please 12. Multiple Choice Question 121 Finney...
answer each question with an explnation of each answer
please
12. Multiple Choice Question 121 Finney Company began the year by issuing $80000 of common stock for cash. The company recorded revenues of $740000, expenses of $640000, and paid dividends of $40000. What was Finney's net income for the year? b. $60000 $140000 $100000 $180000 c. d. Answer: 13. Multiple Choice Question 125 A balance sheet shows b. revenues, expenses, and dividends. assets, liabilities, and stockholders' equity. revenues, liabilities, and...
Magnificent Company began the year with $126,000 in its common stock account and a debit balance...
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
Magnificent Company began the year with $126,000 in its common stock account and a debit balance...
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
Question 6 2 pt Henderson Company began the year with retained earnings of $100,000. During 2025, the company issued $80,000 of common stock for cash. The company recorded revenues of $740,000, expenses of $640,000, and paid dividends of $40,000. What was Finney's net income for the year 2025? $60,000 $140,000 $180,000 $100,000
19 Concord Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions 1) Acquired $3,400 cash from Issuing common stock. 2) Borrowed $2.400 from a bank. 3) Earned $3,300 of revenues. 4) Incurred $2,440 in expenses. 5) Pald dividends of $440. 1.66 points 01:07:42 Concord Company engaged in the following transactions during Year 2: 1) Acquired an additional $700 cash from the issue of common stock. 2) Repaid $1,440 of...
Question 1 Concord Corporation began operations on January 1,2017. The following information is available for Concord Corporation on December 31,2017 Accounts payable 8,500 Notes payable 14,000 Accounts receivable 5,500 Rent expense Advertising expense 4,280 Retained earnings Cash Common stock Dividends Equipment 13,500 6,600 Service revenue 32,000 18,500 Supplies 6000 Supplies expense 1,420 5,400 30,300 Prepare an income statement for Concord Corporation. Concord Corporation Income Statement For the Month Ended December 31, 2017 For the Year Ended December 31, 2017 December...
Multiple Choice Question 121 Blue Spruce Corp, began the year with retained earnings of $121000. During 2022, the company issued $78500 of common stock for cash. The company recorded revenues of $749000, expenses of $672000, and paid dividends of $45000. What was Blue's net income for the year 2022? $110500 $77000 $155500 $32000 Click if you would like to Show Work for this question: Open Show Work
answer each question with an explnation of each answer
please
12. Multiple Choice Question 121 Finney Company began the year by issuing $80000 of common stock for cash. The company recorded revenues of $740000, expenses of $640000, and paid dividends of $40000. What was Finney's net income for the year? b. $60000 $140000 $100000 $180000 c. d. Answer: 13. Multiple Choice Question 125 A balance sheet shows b. revenues, expenses, and dividends. assets, liabilities, and stockholders' equity. revenues, liabilities, and...
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
Magnificent Company began the year with $126,000 in its common stock account and a debit balance in retained earnings of $54,000. During the year, the company earned net income of $27,000 and declared and paid $9,000 of dividends. In addition, the company sold additional common stock amounting to $33,000. Based on this information, what should the transaction analysis show for total stockholders' equity at the end of the year? $231,000 $249,000 $123,000 $165,000
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