Burlin Company starts the year with $88,000 in assets and $17,600 in liabilities. Net income for...
Burlin Company starts the year with $88,000 in assets and $17,600 in liabilities. Net income for the year is $22,000, and no dividends are paid. How much is owners' equity at the end of the year?
Homework Answers
The answer is attached in below picture,
If you have any doubts or answer is not in the format as you expected, please send me a comment before rating my answer and i will clarify the doubt
Thanks
Add Answer to:
Burlin Company starts the year with $88,000 in assets and
$17,600 in liabilities. Net income for...
Assets Liabilities Beginning of Year: $27,000 $15,000 End of Year: $61,000 $26,000 1) What is the...
Assets Liabilities Beginning of Year: $27,000 $15,000 End of Year: $61,000 $26,000 1) What is the equity at the beginning of the year? Beginning Equity 3) If the company issues common stock of $5,800 and pay dividends of $40,700, how much is net income (loss)? Net Income (Loss) 5) If the company issues common stock of $15,400 and net income is $15,300, how much is dividends? Dividends 2) What is the equity at the end of the year? Ending Equity...
Assets Liabilities Beginning of Year: $29,000 $19,000 End of Year: $61,000 $25,000 1) What is the...
Assets Liabilities Beginning of Year: $29,000 $19,000 End of Year: $61,000 $25,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 10000 Ending Equity 36000 3) If the company issues common stock of $9,800 and pay dividends of $37,200, how much is net income (loss)? 4) If net income is $1,200 and dividends are $8,100, how much is common stock? Common Stock Net Income (Loss)...
Assets Liabilities Beginning of Year: $28,000 $15,000 End of Year: $64,000 $25,000 1) What is the...
Assets Liabilities Beginning of Year: $28,000 $15,000 End of Year: $64,000 $25,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 13,000 Ending Equity 39,000 3) If the company issues common stock of $6,900 and pay dividends of $37,400, how much is net income (loss)? 4) If net income is $3,000 and dividends are $6,100, how much is common stock? Net Income (Loss) Common Stock...
Assets Liabilities Beginning of Year: $25,000 $19,000 End of Year: $60,000 $26,000 1) What is the...
Assets Liabilities Beginning of Year: $25,000 $19,000 End of Year: $60,000 $26,000 1) What is the equity at the beginning of the year? Beginning Equity 3) If the company issues common stock of $8,500 and pay dividends of $44,300, how much is net income (loss)? Net Income (Loss) 5) If the company issues common stock of $18,800 and net income is $18, 100, how much is dividends? Dividends 2) What is the equity at the end of the year? Ending...
Assets Liabilities 529.000 $16,000 Beginning of Year $61.000 $27.000 End of Year: 2) What is the...
Assets Liabilities 529.000 $16,000 Beginning of Year $61.000 $27.000 End of Year: 2) What is the equity at the end of the year? 1) What is the equity at the beginning of the year? Beginning Equity 13000 Ending Equity 34000 4) If net income is $2,700 and dividends are $7,200, how much is common stock? 3) If the company issues common stock of 59,100 and pay dividends of 543,000, how much is net income (loss)? Net Income (Loss) 4900 Common...
Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current Assets 1,000.00 $1,089.00 Current Liabilities $402.00...
Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current Assets 1,000.00 $1,089.00 Current Liabilities $402.00 $451.00 Net Fixed Assets 4,144.00 $4,990.00Long-term Debt $2,190.00 $2,329.00 Income Statement 2015 12,751.00 $5,946.00 Depreciation1,136.00 Interest Paid$323.00 Sales Costs 1, What is owners' equity for 2014 and 2015? 2. What is the change in net working capital for 2015? 3, Assume that the company purchased $2,080 in new fixed assets in 2015, Assume the tax rate is 35% o How much in fixed assets...
Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at...
Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets Liabilities 121,500 $ 52,087 179,500 72,698 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,200 cash per month. c. No dividends were paid during the year, but the owner...
Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at...
Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $112,500 155,000 Liabilities $48,229 62,775 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,200 cash per month c. No dividends were paid during the year, but the owner did...
A corporation had the following assets and liabilities at the beginning and end of this year....
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $100,500 157,000 Liabilities $43,084 63,585 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,300 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders'...
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22.000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense 11,500 Interest expense 1,800 Net Income $26,400 Notes payable $22,000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity (d) BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense...
Assets Liabilities Beginning of Year: $27,000 $15,000 End of Year: $61,000 $26,000 1) What is the equity at the beginning of the year? Beginning Equity 3) If the company issues common stock of $5,800 and pay dividends of $40,700, how much is net income (loss)? Net Income (Loss) 5) If the company issues common stock of $15,400 and net income is $15,300, how much is dividends? Dividends 2) What is the equity at the end of the year? Ending Equity...
Assets Liabilities Beginning of Year: $29,000 $19,000 End of Year: $61,000 $25,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 10000 Ending Equity 36000 3) If the company issues common stock of $9,800 and pay dividends of $37,200, how much is net income (loss)? 4) If net income is $1,200 and dividends are $8,100, how much is common stock? Common Stock Net Income (Loss)...
Assets Liabilities Beginning of Year: $28,000 $15,000 End of Year: $64,000 $25,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 13,000 Ending Equity 39,000 3) If the company issues common stock of $6,900 and pay dividends of $37,400, how much is net income (loss)? 4) If net income is $3,000 and dividends are $6,100, how much is common stock? Net Income (Loss) Common Stock...
Assets Liabilities Beginning of Year: $25,000 $19,000 End of Year: $60,000 $26,000 1) What is the equity at the beginning of the year? Beginning Equity 3) If the company issues common stock of $8,500 and pay dividends of $44,300, how much is net income (loss)? Net Income (Loss) 5) If the company issues common stock of $18,800 and net income is $18, 100, how much is dividends? Dividends 2) What is the equity at the end of the year? Ending...
Assets Liabilities 529.000 $16,000 Beginning of Year $61.000 $27.000 End of Year: 2) What is the equity at the end of the year? 1) What is the equity at the beginning of the year? Beginning Equity 13000 Ending Equity 34000 4) If net income is $2,700 and dividends are $7,200, how much is common stock? 3) If the company issues common stock of 59,100 and pay dividends of 543,000, how much is net income (loss)? Net Income (Loss) 4900 Common...
Assets Liabilities and Owners' Equity 2014 2015 2014 2015 Current Assets 1,000.00 $1,089.00 Current Liabilities $402.00 $451.00 Net Fixed Assets 4,144.00 $4,990.00Long-term Debt $2,190.00 $2,329.00 Income Statement 2015 12,751.00 $5,946.00 Depreciation1,136.00 Interest Paid$323.00 Sales Costs 1, What is owners' equity for 2014 and 2015? 2. What is the change in net working capital for 2015? 3, Assume that the company purchased $2,080 in new fixed assets in 2015, Assume the tax rate is 35% o How much in fixed assets...
Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets Liabilities 121,500 $ 52,087 179,500 72,698 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,200 cash per month. c. No dividends were paid during the year, but the owner...
Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $112,500 155,000 Liabilities $48,229 62,775 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,200 cash per month c. No dividends were paid during the year, but the owner did...
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $100,500 157,000 Liabilities $43,084 63,585 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,300 cash per month c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange...
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22.000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense 11,500 Interest expense 1,800 Net Income $26,400 Notes payable $22,000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity (d) BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense...
Most questions answered within 3 hours.
-
The rise of online shopping and Amazon, in particular, has
created major dilemmas for large food/CPG...
asked 10 minutes ago -
Assuming that the wave speed varies little when sound waves are
traveling through a material that...
asked 11 minutes ago -
Is oxygen difluoride polar or nonpolar?
nonpolar
polar
ionic
none of the above
asked 22 minutes ago -
Starting from rest, a car accelerates at a constant rate of 2.6
m/s2 for a time...
asked 18 minutes ago -
A pharmaceutical company wants to answer the question whether
time for a drug in pill form...
asked 21 minutes ago -
) Assume that in the market for widgets, demand is highly
elastic compared to supply. If...
asked 32 minutes ago -
Why is a personal interview the most important step in the sales
selection process? What are...
asked 42 minutes ago -
In Python rOverlap (x1, y1, w1, h1, x2, y2, w2, h2) A rectangle
is axis-aligned if...
asked 42 minutes ago -
If we observe in a protein solution that DNA is causing a
mixture 260/280 ratio ~0.9,...
asked 52 minutes ago -
Explain the steps involved in making cDNA from mRNA, and how you
would create a cDNA...
asked 53 minutes ago -
A beta (β) particle is described by which of the following?
Select the correct answer below:...
asked 56 minutes ago -
A new machine costs $150,000, lasts 10 years, has an annual
O&M cost of $50,000, and...
asked 59 minutes ago