If a company’s total assets increased while liabilities and common stock were unchanged, then: (The answer...
If a company’s total assets increased while liabilities and common stock were unchanged, then:
(The answer is D, can you just explain to me why the answer is that. Thank you!)
- The company must have purchased assets with cash
- No dividends were paid during the period
- Retained earnings were less than net income during the period
- Revenues were greater than expenses
Homework Answers
D.Revenues were greater than expenses
If a company's total assets greater than before while liabilities and common stock remained unchanged, retained earnings must have improved. In order for retained earnings to increase, the company must have stated net income as a result of revenue more than expenses.
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If a company’s total assets increased while liabilities and
common stock were unchanged, then:
(The answer...
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2. If total liabilities increased by $14,000 during a period of time and stockholders' equi decreased...
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Revenue is less than expenses Fabies and common stock we cash flows from operating activities were gre retained earnings were less than net income during the period. total assets decreased. d. the company must have purchased assets with cash. om operating activities were greater than cash flows from investing ies and common stock were unchanged, then
The Southern Company began the accounting period with assets of $600, common stock of $200, and were $50. Common stock was unchanged during the accounting period. Liabilities decreased by $100. T00,000. 13. retained earnings of $250. During the period, revenue was $300, expenses were $200, and dividends Based on this information, net income amounted to $50. total assets at the end of the period were $550. retained earnings at the end of the period amounted to $350. liabilities at the...
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...
2. If total liabilities increased by $14,000 during a period of time and stockholders' equi decreased by $6,000 during the same period, then the amount and direction (increase decrease) of the period's change in total assets is a(n) a. $14,000 increase. b. $20,000 increase. c. $8,000 decrease. d. $8,000 increase. 3. Elston Company compiled the following financial information as of December 31, 2010: Revenues $140,000 Common stock 30,000 Equipment 40,000 Expenses 125,000 Cash 35,000 Dividends 10,000 Supplies 5,000 Accounts payable...
For December 31, 20X1, the balance sheet of Baxter Corporation was as follows Current Assets Liabilities Cash Accounts receivable Inventory Prepaid expenses $ 22,000 30,000 60,000 S 20,000 Accounts payable 25,000 Notes payable 35,000 Bonds payable 13,000 Fixed Assets Stockholders' Equity $ 30,000 65,000 35,000 59,000 $301,000 Gross plant and equipment Less: Accumulated depreciation $ 260,000 Preferred stock 52,000 Common stock SA Paid in Capital $ 208,000Retained earnings Net plant and equipment Total assets 301,000 Total liabilities and stockholders' equity...
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