Stockholder's Equity Company Assets = Liabilities Common Retained + Stocks + Earnings A ? =...
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Stockholder's Equity |
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|
Company |
Assets |
= |
Liabilities |
Common |
Retained |
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|
+ |
Stocks |
+ |
Earnings |
||||
|
A |
? |
= |
$ 30,000 |
+ |
$ 50,000 |
+ |
$ 62,000 |
|
B |
$ 50,000 |
= |
? |
+ |
$ 10,000 |
+ |
$ 25,000 |
|
C |
$ 85,000 |
= |
$ 20,000 |
+ |
? |
+ |
$ 40,000 |
|
D |
$ 125,000 |
= |
$ 60,000 |
+ |
$ 100,000 |
+ |
? |
Homework Answers
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Stockholder's Equity
Company
Assets
=
Liabilities
Common
Retained
+
Stocks
+
Earnings
A
?
=...
Assets = Liabilities + Stockholder's Equity Cash + Land Notes Payable Common Stocks Retained Earnings Affected...
Assets = Liabilities + Stockholder's Equity Cash + Land Notes Payable Common Stocks Retained Earnings Affected Account Balances $ 2,000 + $ 12,000 = $ - + $ 6,000 + $ 8,000 1 $ 30,000 + = + $ 30,000 + 2 + = + + 3 + = + + 4 + = + + 5 + = + + 6 + = + + 7 + = + + 8 + = + + Totals + = +...
Assets = Liabilities + Stockholder's Equity Cash + Land Notes Payable Common Stocks Retained Earnings Affected...
Assets = Liabilities + Stockholder's Equity Cash + Land Notes Payable Common Stocks Retained Earnings Affected Account Balances $ 16,000 + $ 40,000 = $ 10,000 + $ 32,000 + $ 14,000 1 $ + = + $ + 2 + = + + 3 + = $ + + 4 + = + + 5 + = + + 6 + = + + Totals + = $ + $ + $ Company transactions during the accounting period: 1....
LO 2 tors receiver Asle tele de lu legal fees or other costs of liquidation.) Exercise...
LO 2 tors receiver Asle tele de lu legal fees or other costs of liquidation.) Exercise 1-8A) Missing information in the accounting equation Required Calculate the missing amounts in the following table. Company Assets Liabilities Stockholders' Equity Common Retained Stock Earnings $ 50,000 $62,000 10,000 25,000 40,000 100,000 $30,000 $? 50,000 85,000 215,000 20,000 60,000
Retained Earnings= 34,500 7) Complete the following stockholder's equity section of the balance sheet for Sunset...
Retained Earnings= 34,500
7) Complete the following stockholder's equity section of the balance sheet for Sunset Sailboat Company. Information: Use the ending retained earnings balance calculated above. Common stock par value, $5 / share, 200,000 shares. Preferred stock par value, $100 / share, 10,000 shares. Paid-in capital in excess of par - Common Stock, $250,900; Paid-in Capital in Excess of Par - Preferred Stock, $4,750. Comprehensive Income, $45,000, unrecognized trading gain. Treasury Stock ($50,000). Balance Sheet Stockholder's Equity (only) Contributed...
Requirement 1 journalize each transaction QUESTION 1 Prepare a balance sheet. Within the assets and liabilities...
Requirement 1 journalize each transaction
QUESTION 1 Prepare a balance sheet. Within the assets and liabilities sections, you must start with the most "current" items. - Total Liabilities plus Stockholders' Equity ??? - Mortgage $35,000 - Retained Earnings ??? - Common Stock $60,000 - Total Assets ??? - Total Stockholders' Equity ??? - Inventory $20,000 - Total Liabilities ??? - Accounts Payables $25,000 - Building $40,000 - Cash $50,000 - Equipment $30,000 - Accounts Receivables $10,000 QUESTION 2 Total Assets...
Assets - Liabilities + Stockholders' Equity Retained Earnings Accounts + Receivable Supplies Equipment Accounts Payable Common...
Assets - Liabilities + Stockholders' Equity Retained Earnings Accounts + Receivable Supplies Equipment Accounts Payable Common Stock +$15,000 Revenues Expenses Dividend + $5,000 +$3,000 +$750 $4,500 + $9.400 Service Revenue Cash +$15,000 -2.000 -750 +4,900 - 1,500 -2,000 -850 +450 -3,900 -1,500 -$2,000 Rent Expense -$850 -3,900 -500 Salaries/Wages Expense Utilities Expense (b) Determine how much stockholders' equity increased for the month. Increase in stockholders' equity (c) Compute the amount of net income for the month Net income Toth Company...
Question 7 IMA Believer Corp’s balance sheet reported the following shareholders’ equity as of December 31,...
Question 7 IMA Believer Corp’s balance sheet reported the following shareholders’ equity as of December 31, 2016: Beginning of the Year End of the Year Current assets $62,000 $82,000 Current liabilities 25,000 55,000 Plant and equipment 300,000 350,000 Long-term liabilities 50,000 75,000 Common shareholders’ equity 125,000 225,000 Preferred shareholders’ equity 60,000 85,000 Share Capital: Preferred shares, $100 stated value; $5 cumulative, 10,000 shares authorized, 10,000 issued $1,000,000 Common shares 200,000 shares authorized, 50,000 shares issued 500,000 Total share capital $2,500,000...
MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash 50,000 Accounts receivable 100,000 Inventory 200,000...
MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash 50,000 Accounts receivable 100,000 Inventory 200,000 650,000 Net plant and equipment $1,000,000 Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable 100,000 Accrued expenses 90,000 Long-term debt Common stock 250,000 100,000 Paid-in capital 50,000 Retained earnings 410,000 $1,000,000 Total liabilities and stockholders' equity MARNI COMPANY Income Statement For the year ended December 31 Sales (all on credit) $2,000,000 1,750,000 Cost of goods sold Gross profit 250,000 Sales and administrative expenses 30,000...
Beginning of the Year End of the Year Current assets $62,000 $82,000 Current liabilities 25,000 55,000...
Beginning of the Year End of the Year Current assets $62,000 $82,000 Current liabilities 25,000 55,000 Plant and equipment 300,000 350,000 Long-term liabilities 50,000 75,000 Common shareholders’ equity 125,000 225,000 Preferred shareholders’ equity 60,000 85,000 Given the following information for Victory Stables, calculate their return on assets, and return on equity and comment on the use of these ratios (why would we use them? what do they tell us?). Net income $50,000 Interest expense 8,500 Income tax expense 15,250 Preferred...
Need help in preparing normal or required equity-method entries related to the investment in Rebecca Company...
Need help in preparing normal or required equity-method entries
related to the investment in Rebecca Company during 20XX.
And need help in preparing a consolidation worksheet
As of December 31, 20XX and for Year Ended December 31, 2 Pauline Rebecca Income Statement Sales Less: COGS Less: Depreciation Expense Less: Other Expenses Income from Rebecca Net Income 800,000 (200,000) (50,000) (225,000) 75,000 400,000 250,000 (125,000) (10,000) (40,000) 75,000 Statement of Retained Earnings Beginning Balance Net Income Less: Dividends Declared Ending Balance...
LO 2 tors receiver Asle tele de lu legal fees or other costs of liquidation.) Exercise 1-8A) Missing information in the accounting equation Required Calculate the missing amounts in the following table. Company Assets Liabilities Stockholders' Equity Common Retained Stock Earnings $ 50,000 $62,000 10,000 25,000 40,000 100,000 $30,000 $? 50,000 85,000 215,000 20,000 60,000
Retained Earnings= 34,500
7) Complete the following stockholder's equity section of the balance sheet for Sunset Sailboat Company. Information: Use the ending retained earnings balance calculated above. Common stock par value, $5 / share, 200,000 shares. Preferred stock par value, $100 / share, 10,000 shares. Paid-in capital in excess of par - Common Stock, $250,900; Paid-in Capital in Excess of Par - Preferred Stock, $4,750. Comprehensive Income, $45,000, unrecognized trading gain. Treasury Stock ($50,000). Balance Sheet Stockholder's Equity (only) Contributed...
Requirement 1 journalize each transaction
QUESTION 1 Prepare a balance sheet. Within the assets and liabilities sections, you must start with the most "current" items. - Total Liabilities plus Stockholders' Equity ??? - Mortgage $35,000 - Retained Earnings ??? - Common Stock $60,000 - Total Assets ??? - Total Stockholders' Equity ??? - Inventory $20,000 - Total Liabilities ??? - Accounts Payables $25,000 - Building $40,000 - Cash $50,000 - Equipment $30,000 - Accounts Receivables $10,000 QUESTION 2 Total Assets...
Assets - Liabilities + Stockholders' Equity Retained Earnings Accounts + Receivable Supplies Equipment Accounts Payable Common Stock +$15,000 Revenues Expenses Dividend + $5,000 +$3,000 +$750 $4,500 + $9.400 Service Revenue Cash +$15,000 -2.000 -750 +4,900 - 1,500 -2,000 -850 +450 -3,900 -1,500 -$2,000 Rent Expense -$850 -3,900 -500 Salaries/Wages Expense Utilities Expense (b) Determine how much stockholders' equity increased for the month. Increase in stockholders' equity (c) Compute the amount of net income for the month Net income Toth Company...
MARNI COMPANY Balance Sheet As of December 31 ASSETS Cash 50,000 Accounts receivable 100,000 Inventory 200,000 650,000 Net plant and equipment $1,000,000 Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Accounts payable 100,000 Accrued expenses 90,000 Long-term debt Common stock 250,000 100,000 Paid-in capital 50,000 Retained earnings 410,000 $1,000,000 Total liabilities and stockholders' equity MARNI COMPANY Income Statement For the year ended December 31 Sales (all on credit) $2,000,000 1,750,000 Cost of goods sold Gross profit 250,000 Sales and administrative expenses 30,000...
Need help in preparing normal or required equity-method entries
related to the investment in Rebecca Company during 20XX.
And need help in preparing a consolidation worksheet
As of December 31, 20XX and for Year Ended December 31, 2 Pauline Rebecca Income Statement Sales Less: COGS Less: Depreciation Expense Less: Other Expenses Income from Rebecca Net Income 800,000 (200,000) (50,000) (225,000) 75,000 400,000 250,000 (125,000) (10,000) (40,000) 75,000 Statement of Retained Earnings Beginning Balance Net Income Less: Dividends Declared Ending Balance...
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