Homework Answers
Answer:
Correct answer is:
d. $333,447
Explanation:
Beginning balance Liabilities = Beginning balance assets - Beginning balance equity = $263559 - $120000 = $143559
Ending balance Liabilities = Beginning balance Liabilities + Increase during the year = 143559 + 32059 = $175,618
Ending balance equity = Beginning balance equity + Net Income - Dividend = 120000 + 48832 - 11003 = $157,829
Total liabilities and equity, ending balance = 175618 + 157829 = $333,447
Option D is correct and other options A, B and C are incorrect.
Total assets, ending balance = Total liabilities and equity, ending balance = $333,447
Add Answer to:
A company has S263559 of assets and S120000 in shareholders' equity at the beginning of the...
Incorrect Mark 0.00 out of 1.00 your was 553245 and dividends declared were $11.390. The liabilities...
Incorrect Mark 0.00 out of 1.00 your was 553245 and dividends declared were $11.390. The liabilities increased by $22822 over the year. What is the end Ixalance of the assets? Select one: a. $190706 b. $278205 c. $320060 d. $331450 x Your answer is incorrect. The correct answer is: $320060 Question 2 Incorrect Mark 0.00 out of 100 A company has 52553 of assets and 5120000 in shareholders' equity at the beginning of the year. The net income for the...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $10,200...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $10,200 and liabilities of $5,400. During the year, liabilities decreased by $1,100. Net income for the year was $2,350, and net assets at the end of the year were $5,150. There were no changes in paid-in capital during the year. Required Calculate the dividends, if any, declared during the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity Assets Liabilities PIC RE...
Lola Corp, has shareholders' equity of $128,600. The company has a total debt of $120.950, of...
Lola Corp, has shareholders' equity of $128,600. The company has a total debt of $120.950, of which 55 percent is payable in the next 12 months. The company also has net fixed assets of $174,320. What is the company's networking capital? Multiple Choice Ο Ο Ο Ο Ο 83370 Hoodoo Voodoo Co. has total assets of $64,650, net working capital of $19,525, owners' equity of $31,665, and long term debt of $22.235. What is the company's current assets? Multiple Choice...
Question text At the beginning of 20x6, Split Co.’s shareholders’ equity had a balance of $52562...
Question text At the beginning of 20x6, Split Co.’s shareholders’ equity had a balance of $52562 and liabilities were equal to $18873. During the year 20x6, assets increased by $20393 and liabilities decreased by $9057. At the end of 20x6, what is the balance of Split Co.’s shareholders’ equity account? Select one: a. $63898 b. $23112 c. $11336 d. $82012 Question text PF Co. began business on January 1, 20x10. Below are the transactions that took place during the company’s...
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities...
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $448,000. During the year, liabilities decreased by $25,200, assets increased by $91,000, and paid-in capital increased from $42,000 to $268,800. Dividends declared and paid during the year were $35,000. At the end of the year, stockholders' equity totaled $600,600. Required Calculate net income (or loss) for the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity AssetsLiabilitiesPICRE $448,000 Beginning Changes:...
At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities...
At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $432,000. During the year, liabilities decreased by $79,000, assets increased by $159,000, and paid-in capital increased by $14,000 to $382,000. Dividends declared and paid during the year were $127,000. At the end of the year, stockholders' equity totaled $751,000. Required: Calculate net income or loss for the year. (Amounts to be deducted should be indicated with a minus sign.) Assets = Liabilities +...
At the beginning of its current fiscal year, Willie Corp.’s balance sheet showed assets of $15,000...
At the beginning of its current fiscal year, Willie Corp.’s
balance sheet showed assets of $15,000 and liabilities of $6,500.
During the year, liabilities decreased by $1,000. Net income for
the year was $2,450, and net assets at the end of the year were
$9,050. There were no changes in paid-in capital during the
year.
Required:
Calculate the dividends, if any, declared during the year. Indicate
the financial statement effect. (Enter decreases with a
minus sign to indicate a negative...
At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders'...
At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $518,000. During the year, liabilities increased by $21,000 to $233,000, paid in capital increased by $31,000 to $176,000, and assets increased by $264,000. Dividends declared and paid during the year were $50,000 Required: Calculate net income or loss for the year (Amounts to be deducted should be indicated with a minus sign.) Assets - 264.000 = Stockholders' Equity PIC + RE $...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $6,000. During the year, liabilities decreased by $1,100. Net income for the year was $3,100, and net assets at the end of the year were $9,600. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $6,000. During the year, liabilities decreased by $1,100. Net income for the year was $3,100, and net assets at the end of the year were $9,600. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
Incorrect Mark 0.00 out of 1.00 your was 553245 and dividends declared were $11.390. The liabilities increased by $22822 over the year. What is the end Ixalance of the assets? Select one: a. $190706 b. $278205 c. $320060 d. $331450 x Your answer is incorrect. The correct answer is: $320060 Question 2 Incorrect Mark 0.00 out of 100 A company has 52553 of assets and 5120000 in shareholders' equity at the beginning of the year. The net income for the...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $10,200 and liabilities of $5,400. During the year, liabilities decreased by $1,100. Net income for the year was $2,350, and net assets at the end of the year were $5,150. There were no changes in paid-in capital during the year. Required Calculate the dividends, if any, declared during the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity Assets Liabilities PIC RE...
Lola Corp, has shareholders' equity of $128,600. The company has a total debt of $120.950, of which 55 percent is payable in the next 12 months. The company also has net fixed assets of $174,320. What is the company's networking capital? Multiple Choice Ο Ο Ο Ο Ο 83370 Hoodoo Voodoo Co. has total assets of $64,650, net working capital of $19,525, owners' equity of $31,665, and long term debt of $22.235. What is the company's current assets? Multiple Choice...
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $448,000. During the year, liabilities decreased by $25,200, assets increased by $91,000, and paid-in capital increased from $42,000 to $268,800. Dividends declared and paid during the year were $35,000. At the end of the year, stockholders' equity totaled $600,600. Required Calculate net income (or loss) for the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity AssetsLiabilitiesPICRE $448,000 Beginning Changes:...
At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $432,000. During the year, liabilities decreased by $79,000, assets increased by $159,000, and paid-in capital increased by $14,000 to $382,000. Dividends declared and paid during the year were $127,000. At the end of the year, stockholders' equity totaled $751,000. Required: Calculate net income or loss for the year. (Amounts to be deducted should be indicated with a minus sign.) Assets = Liabilities +...
At the beginning of its current fiscal year, Willie Corp.’s
balance sheet showed assets of $15,000 and liabilities of $6,500.
During the year, liabilities decreased by $1,000. Net income for
the year was $2,450, and net assets at the end of the year were
$9,050. There were no changes in paid-in capital during the
year.
Required:
Calculate the dividends, if any, declared during the year. Indicate
the financial statement effect. (Enter decreases with a
minus sign to indicate a negative...
At the beginning of the current fiscal year, the balance sheet of Hughey Inc. showed stockholders' equity of $518,000. During the year, liabilities increased by $21,000 to $233,000, paid in capital increased by $31,000 to $176,000, and assets increased by $264,000. Dividends declared and paid during the year were $50,000 Required: Calculate net income or loss for the year (Amounts to be deducted should be indicated with a minus sign.) Assets - 264.000 = Stockholders' Equity PIC + RE $...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $6,000. During the year, liabilities decreased by $1,100. Net income for the year was $3,100, and net assets at the end of the year were $9,600. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $6,000. During the year, liabilities decreased by $1,100. Net income for the year was $3,100, and net assets at the end of the year were $9,600. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
Most questions answered within 3 hours.
-
NEED THIS URGENTLY PLEASEEE
Suppose a fair coin is tossed 5 times and the result are...
asked 1 minute ago -
A mole of monatomic ideal gas is expanded from 0.45 L to 0.75L
at an external...
asked 8 minutes ago -
Find the magnetic field B produced by several circular loops of
which has a radius given...
asked 9 minutes ago -
Carbon dioxide (CO2) gas is steadily pressurized and cooled by
sending it sequentially through a compressor...
asked 12 minutes ago -
calculare the standard deviation of a portfolio that contains 40%
of one stock with a standard...
asked 9 minutes ago -
When exposed to sunlight, a hole in a sheet of copper expands in
diameter by 0.160...
asked 27 minutes ago -
Economists believe that there are many nonmonetary gains from
further trade opening. Which of the following...
asked 29 minutes ago -
For message exchange over the Internet, the specific processes
that send and receive packets are identified...
asked 22 minutes ago -
How would
you create a group that promotes multicultural
understanding?
Should a
session conducted with youth...
asked 28 minutes ago -
A 2-kg block sits on a horizontal table. There is a hole in the
table directly...
asked 42 minutes ago -
If the rate law for the reaction A ⟶ Products is rate = k[A]2 ,
calculate...
asked 46 minutes ago -
A
projectile is shot horizontally at 23.4 m/s from the roof of a
building 55 m...
asked 1 hour ago