i need help with just the number with red x
i need help with just the number with red x At the beginning of the current...
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $416,000. During the year, liabilities decreased by $23,400, assets increased by $84,500, and paid-in capital increased from $39,000 to $249,600. Dividends declared and paid during the year were $32,500. At the end of the year, stockholders' equity totaled $557,700. Required: Calculate net income (or loss) for 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 for Davis Co. showed liabilities of $160,000. During the year, liabilities decreased by $9.000. assets increased by $32,500, and paid-in capital increased from $15,000 to $96,000. Dividends declared and paid during the year were $12,500. At the end of the year, stockholders' equity totaled $214,500. Required: Calculate net income (or loss) for 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 for Davis Co. showed liabilities of $160,000. During the year, liabilities decreased by $9,000, assets increased by $32,500, and paid-in capital increased from $15,000 to $96,000. Dividends declared and paid during the year were $12,500. At the end of the year, stockholders' equity totaled $214,500. Required: Calculate net income (or loss) for 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 for Davis Co. showed liabilities of $192,000. During the year, liabilities decreased by $10,800, assets increased by $39,000, and paid-in capital increased from $18,000 to $115,200. Dividends declared and paid during the year were $15,000. At the end of the year, stockholders' equity totaled $257,400. Required: Calculate net income (or loss) for 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 for Davis Co showed liabilities of $320,000. During the year, liabilities decreased by $18,000, assets increased by $65.000, and paid-in capital increased from $30,000 to $192,000. Dividends declared and paid during the year were $25,000. At the end of the year, stockholders' equity totaled $429,000 Required: Calculate net income (or loss) for 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 for Davis Co. showed liabilities of $224,000. During the year, liabilities decreased by $12,600, assets increased by $45,500, and paid-in capital increased from $21,000 to $134,400. Dividends declared and paid during the year were $17,500. At the end of the year, stockholders' equity totaled $300,300. Required: Calculate net income (or loss) for 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 for Davis Co. showed liabilities of $224,000. During the year, liabilities decreased by $12,600, assets increased by $45,500, and paid-in capital increased from $21,000 to $134,400. Dividends declared and paid during the year were $17,500. At the end of the year, stockholders’ equity totaled $300,300. Required: Calculate net income (or loss) for the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity AssetsLiabilities PIC RE Beginning:...
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:...
please explain in depth so i can see how to get there At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $352,000. During the year, liabilities decreased by $19,800, assets increased by $71,500, and paid-in capital increased from $33,000 to $211,200. Dividends declared and paid during the year were $27,500. At the end of the year, stockholders' equity totaled $471,900. Required: Calculate net income (or loss) for the year. Indicate the financial...
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 +...