Homework Answers
a) 2019 Ending equity = 457000-216000 = 241000
Net income (loss) = 97000-20000-241000 = 164000
b) 2020 Ending equity = 537000-266000 = 271000
Net income (loss) = 241000+40000-271000 = -10000
c) 2021 Ending equity = 667000-366000 = 301000
Net income (loss) = 271000+22000-15000-301000 = 23000
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19 19 View Policies Current Attempt in Progress Splish Brothers Inc, had the following...
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Question 5 View Policies Current Attempt in Progress Splish Company had the following stockholders' equity as...
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Question 10 LUS Support View Policies Current Attempt in Progress okstore Splish Brothers Inc. sells a...
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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...
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Question 5 View Policies Current Attempt in Progress Splish Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 18,800 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $94.000 298,000 319,000 $711,000 During 2020, the following transactions occurred. Feb. 1 Splish repurchased 2,100 shares of treasury stock at a price of $21 per share. Mar. 1 780 shares of treasury stock repurchased above were reissued at $19 per...
Question 10 LUS Support View Policies Current Attempt in Progress okstore Splish Brothers Inc. sells a snowboard. EZslide, that is popular with snowboard enthusiasts. Below is information relating to Splish Brothers Inc's purchases of EZslide snowboards during September. During the same month, 109 Eslide snowboards were sold. Splish Brothers Inc, uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory $119 $ 1.309 Sept. 12 Purchases 50 6.100 Sept. 19 Purchases 74134 Sept. 26 Purchases...
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