Homework Answers
Equity = Total Assets - Total Liabilities
Equity at beginning = $195,000 - $65,000
= $130,000
Total Equity at the end = Equity at beginning +
additional capital + Retained earnings +
accumulated comprehensive income / (loss)
Income / (loss) = revenue - expenses
= $226,000 - $175,000 - $ 48,000
= $3,000
Total Equity at the end = $130,000 + $10,000 + $3,000
= $143,000
* Ans - (b) $143,000
Add Answer to:
end At the beginning of the year, Beta company's statement of financial position reported the balances:...
at the beginning of the year, sigma company's balance sheet reported total asset of $195000 and...
at the beginning of the year, sigma company's balance sheet reported total asset of $195000 and total liabilities of $75000. during the year, the company reported total revenues of $226000 and expenses of $175000. also owner withdrawals during the year totaled $48000. assuming no other changes to owner's capital, the balance in the owner's capital account at the end of the year would be a) $78000 b)$123000 c)$174000 d)$171000
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $267,000 and...
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $267,000 and Total Liabilities of $20,600 and Total Paid-in capital of $82,400. During the year, the company reported total revenues of $314,000 and expenses of $243,000. Also, dividends during the year totaled $64,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be: Multiple Choice $268,000 $232,000. $165,000. $168,000 $171,000
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $276,000 and...
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $276,000 and Total Liabilities of $21,300 and Total Paid-in capital of $85,200. During the year, the company reported total revenues of $325,000 and expenses of $251,500. Also, dividends during the year totaled $66,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be: Multiple Choice $277,500. $240,000. $171,000. $174,000. $177,000
income statement statement of changes in equity statement of financial position These accounts and balances are...
income statement
statement of changes in equity
statement of financial position
These accounts and balances are taken from the financial statements of Sarasota Corporation for the year ended December 31, 2022 Retained earnings, January 1 Utilities expense Equipment Accounts payable Income tax payable Cash Salaries payable Common shares, January 1 Dividends declared Service revenue Prepaid insurance Repair and maintenance expense Depreciation expense Accounts receivable Insurance expense Salaries expense Income tax expense Accumulated depreciation-equipment $25,000 1,300 81,000 19,200 4.700 12,400 3,000...
Mawar Sdn. Bhd. presented the following balances in the company's statement of financial position for 2017...
Mawar Sdn. Bhd. presented the following balances in the company's statement of financial position for 2017 and 2016. December 31, 2017 December 31, 2016 RM RM Equipment 105,450 76,500 Accumulated depreciation-equipment (48.300) (30,600) Inventory 175.350 139,875 Accounts receivable 19,425 23.250 Cash 53.925 31,800 Ordinary share capital, no par value 207,000 165,000 Retained earnings 55,875 33,450 Accounts payable 38,475 35,625 Tax payable 4,500 6,750 Mawar Sdn. Bhd, presented the following statement of profit or loss for the year ended December 31,...
MC Qu. 115 At the beginning of the year, Sigma Company's balance.. At the beginning of...
MC Qu. 115 At the beginning of the year, Sigma Company's balance.. At the beginning of the year Company's bace whereported to set of 2000 and total e s of $900 During the year the company reported total revenues of $270000 and expenses of $209.000. Also owner withdrawal during the year 200 Asuming no other changes to owner's capital, the balance in the owner's capital account at the end of the year would be o o o o of
QUESTION 3 At the beginning of the year Big Lots reported retained earnings of $2,024 million...
QUESTION 3 At the beginning of the year Big Lots reported retained earnings of $2,024 million and accumulated other comprehensive income (AOCI) of $102 million. At the end of the year it reported retained earnings of $2,208 million and AOCI of $42 million. The company also reported net income for the year of $404 million. How much (in $ millions) did the company pay out in cash dividends during the year? Note that even though your answer will represent a...
At the beginning of the current year, Trenton Company's total assets were $272,000 and its total...
At the beginning of the current year, Trenton Company's total assets were $272,000 and its total liabilities were $187,000. During the year, the company reported total revenues of $117,000, total expenses of $88,000 and dividends of $17,000. There were no other changes in equity during the year and total assets at the end of the year were $284,000. Trenton Company's debt ratio at the end of the current year is: Multiple Choice Ο 65.8%. Ο 34.2%. Ο 51.9%. Ο O...
The shareholders' equity section of the statement of financial position of Riley Lid at 30 June...
The shareholders' equity section of the statement of financial position of Riley Lid at 30 June 2019 is as follows. 2019 2018 Share capital General reserve Foreign currency translation reserve Retained earnings 200000$160 000 40000 60000 160000 50000 74000 170000 $494000 $420 000 Additional information . Riley Ltd issued 16000 shares at $2.50 each on 31 May 2019 for cash. . A transfer of $10000 was made from retained earnings to the general reserve. . Comprehensive income for the year...
A Your company's summarized financial information for the beginning and projected end of the current year...
A Your company's summarized financial information for the beginning and projected end of the current year is as follows: Beginning of the Year End of the Year (projected) Assets $90,000 $100,000 Liabilities 30.000 30.000 Equity 60,000 70,000 Net Income TANNE 1 5.000 EUR Your company is considering issuing 30 bonds at the end of the vear (December 31st). The bonds will pay 8% interest semi-annually for 10 years and the market rate for similar bonds is 5%. Therefore, the total...
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $267,000 and Total Liabilities of $20,600 and Total Paid-in capital of $82,400. During the year, the company reported total revenues of $314,000 and expenses of $243,000. Also, dividends during the year totaled $64,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be: Multiple Choice $268,000 $232,000. $165,000. $168,000 $171,000
income statement
statement of changes in equity
statement of financial position
These accounts and balances are taken from the financial statements of Sarasota Corporation for the year ended December 31, 2022 Retained earnings, January 1 Utilities expense Equipment Accounts payable Income tax payable Cash Salaries payable Common shares, January 1 Dividends declared Service revenue Prepaid insurance Repair and maintenance expense Depreciation expense Accounts receivable Insurance expense Salaries expense Income tax expense Accumulated depreciation-equipment $25,000 1,300 81,000 19,200 4.700 12,400 3,000...
Mawar Sdn. Bhd. presented the following balances in the company's statement of financial position for 2017 and 2016. December 31, 2017 December 31, 2016 RM RM Equipment 105,450 76,500 Accumulated depreciation-equipment (48.300) (30,600) Inventory 175.350 139,875 Accounts receivable 19,425 23.250 Cash 53.925 31,800 Ordinary share capital, no par value 207,000 165,000 Retained earnings 55,875 33,450 Accounts payable 38,475 35,625 Tax payable 4,500 6,750 Mawar Sdn. Bhd, presented the following statement of profit or loss for the year ended December 31,...
MC Qu. 115 At the beginning of the year, Sigma Company's balance.. At the beginning of the year Company's bace whereported to set of 2000 and total e s of $900 During the year the company reported total revenues of $270000 and expenses of $209.000. Also owner withdrawal during the year 200 Asuming no other changes to owner's capital, the balance in the owner's capital account at the end of the year would be o o o o of
QUESTION 3 At the beginning of the year Big Lots reported retained earnings of $2,024 million and accumulated other comprehensive income (AOCI) of $102 million. At the end of the year it reported retained earnings of $2,208 million and AOCI of $42 million. The company also reported net income for the year of $404 million. How much (in $ millions) did the company pay out in cash dividends during the year? Note that even though your answer will represent a...
At the beginning of the current year, Trenton Company's total assets were $272,000 and its total liabilities were $187,000. During the year, the company reported total revenues of $117,000, total expenses of $88,000 and dividends of $17,000. There were no other changes in equity during the year and total assets at the end of the year were $284,000. Trenton Company's debt ratio at the end of the current year is: Multiple Choice Ο 65.8%. Ο 34.2%. Ο 51.9%. Ο O...
The shareholders' equity section of the statement of financial position of Riley Lid at 30 June 2019 is as follows. 2019 2018 Share capital General reserve Foreign currency translation reserve Retained earnings 200000$160 000 40000 60000 160000 50000 74000 170000 $494000 $420 000 Additional information . Riley Ltd issued 16000 shares at $2.50 each on 31 May 2019 for cash. . A transfer of $10000 was made from retained earnings to the general reserve. . Comprehensive income for the year...
A Your company's summarized financial information for the beginning and projected end of the current year is as follows: Beginning of the Year End of the Year (projected) Assets $90,000 $100,000 Liabilities 30.000 30.000 Equity 60,000 70,000 Net Income TANNE 1 5.000 EUR Your company is considering issuing 30 bonds at the end of the vear (December 31st). The bonds will pay 8% interest semi-annually for 10 years and the market rate for similar bonds is 5%. Therefore, the total...
Most questions answered within 3 hours.
-
Core Concepts of Accounting Information Systems
Discussion Question #4
Does a company have the right to...
asked 3 minutes ago -
Why does the Solow model cannot explain growth in the long run?
What is the role...
asked 5 minutes ago -
Question 8 Interactive LearningWare 26.2 offers a review of the
concepts that play roles in this...
asked 9 minutes ago -
draw product of cyclohex-2-en-1-one, Sodium methoxide and
hydronium workup
asked 18 minutes ago -
In a certain state, about 65% of drivers who are arrested for
driving while intoxicated (DWI)...
asked 19 minutes ago -
A single NEC SX-9 vector processor unit (VPU) has a peak
arithmetic
performance of 102.4 GFs/s....
asked 37 minutes ago -
. Determine the hourly multiplication factors
such that the total daily water consumption will equal 15,000...
asked 38 minutes ago -
A budgeting Web site reported that 35% of U.S. households have
withdrawn money from a 401(k)...
asked 36 minutes ago -
In this assignment, you will write a minimum two-page paper that
explains the treatment of internal...
asked 41 minutes ago -
Direct marketing is also referred to as Question 50 options: 1)
one-to-one marketing. 2) business-customer marketing....
asked 44 minutes ago -
INK Ltd is grocery retailer with 103 shops around South
Australia and Tasmania. The company has...
asked 49 minutes ago -
HOW BEER IS MADE
The beer making process is an art. It takes time, patience and...
asked 50 minutes ago