Homework Answers
Question no 2.
Answer : Correct one is True.
The retained earnings are calculated by adding net income to (or subtracting net losses from) the previous term’s retained earnings and then subtracting any net dividend(s) paid to the shareholders.
Mathematically,
Retained Earnings (RE) = Beginning Period RE + Net Income (Loss) – Cash Dividends – Stock Dividends
Question no 3.
Answer : Correct one is True
The quick ratio is more conservative than the current ratio because it excludes inventory and other current assets, which generally are more difficult to turn into cash. A higher quick ratio means a more liquid current position and for firm with slow moving inventory it is okay.
NOTE : FOR QUESTION NO. 4 PLEASE PROVIDE FULL QUESTION AND BETTER IMAGE QUALITY .
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Question 2 (3 points) To calculate a company's retained earnings start with retained earnings at the...
Question 4 (3 points) Rocky Johnson just reported the following balance sheet for the end of...
Question 4 (3 points) Rocky Johnson just reported the following balance sheet for the end of 2018. Find the quick ratio for the firm. Format 1.23x as 1.23 Know Your Role Boulevard, LLC Assets: Cash and Marketable Securities $420,000 Accounts Receivable Inventory Total Current Assets Gross Fixed Assets Accumulated Depreciation $2,225,000 Net Fixed Assets Total Assets Liabilities and Shareholder Equity $ Accounts Payable Notes Payable Total Current Liabilities Long term Debt Total Liabilities Common Stock Retained Earnings Total Shareholder Equity...
Which is an incorrect equation for a Balance Sheet?
Which is an incorrect equation for a Balance Sheet? Assets-Current Liabilities = Long Term Liabilities+ Shareholders' Equity Assets- Current Liabilities = Long Term Liabilities Assets = Liabilities+Shareholders' Equity Assets = Liabilities Shareholders' Equity Question 2To calculate a company's retained earnings start with retained earnings at the beginning of the year, add net income, subtract dividends paid, and you have up with retained earnings at the end of the year. True False Question 3 For firms with slow moving inventory, the quick ratio is a better measure of liquidity than...
True False Question 2 (3 points) Given a singly linked list with more than two nodes,...
True False Question 2 (3 points) Given a singly linked list with more than two nodes, to remove the second node from a linked list with only head reference, assume curr - head, next, you do Set curr.next to head.next Oset head. next to curr.next Set head, next to curr Oset head to curr.next TL th Question 3 (3 points) Given the following singly linked list (a list with four nodes), what will be the value stored at the last...
Need help with this question ASAP 3.00 points Problem 2-3 Dividends and Retained Earnings [LO 2]...
Need help with this question ASAP
3.00 points Problem 2-3 Dividends and Retained Earnings [LO 2] has sales of $591,000, costs of $267,000, depreciation expense of $68,000, interest expense of $35,000, and a tax rate of 30 percent The firm paid out $39,000 in cash dividends. Do not Hint#1 But
Use the numbers above for a retained earnings sheet. Question 3 View Policies Current Attempt in...
Use
the numbers above for a retained earnings sheet.
Question 3 View Policies Current Attempt in Progress These financial statement items are for Sheridan Company at year-end, July 31, 2022 Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable due in 2025) Common stock $4,100 59.100 17.300 17,620 4000 67,700 10.200 3.700 Accounts receivable Accumulated depreciation-couiment Dividends Depreciation expense Retained earnings beginning of the year 16,000 35.280 11.700 7400 4000...
10 points Saved QUESTION 3 What would be the cost of retained earnings equity for Tangshan...
10 points Saved QUESTION 3 What would be the cost of retained earnings equity for Tangshan Mining if the expected return on U.S. Treasury Bills is 5.00%, the market risk premium is 10.00 percent, and the firm's beta is 1.52 A 11.5% O 1.18.0% Oc 100% Op 20%
Question 1 (35 marks) Presented here are a Statement of Income and Retained Earnings and Comparative Balance Sheets for...
Question 1 (35 marks) Presented here are a Statement of Income and Retained Earnings and Comparative Balance Sheets for Madison Gardens Pty Ltd, which operates a national chain of sporting goods stores. Statement of Income and Retained Earnings for the Year ended ended 31 December 2016 Net sales R48000 Cost of goods sold R36000 Gross profit 12000 Selling, general and admin expense 6000 Operating income 6000 Interest expense 280 Income before tax 5720 Income tax expense 2280 Net income 3440...
Next Page Page 3 of 5 Question 3 (2 points) Calculate ending equity if opening paid...
Next Page Page 3 of 5 Question 3 (2 points) Calculate ending equity if opening paid in capital (share capital) was $100,000 and retaining earnings were $10,000, but during the year recorded an after-tax profit of $30,000 and no dividends were paid out and no share activity took place. Record ending paid-in capital, retained earnings and total equity separately. O Ai e @ @
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common...
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common Stock Dividends How many of the above accounts have a normal debit balance? A) Six. C) Four D) Seven. 214) For a journal entry with only two lines, the following entry is valid: Increase in Revenue, Decrease in Expense A) True B) False 215) For a journal entry with only two lines, the following entry is valid Increase in Expense, Increase in Dividends. B)...
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded...
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded abbreviations for your answers. Use Column 1 to indicate whether the item is found on the Balance Sheet (BS) or Income Statement (IS) For Balance Sheet items, use Column 2 to indicate the following: CA Current Asset, NCA Non Current Asset, PPE- Property, Plant & Equipment, IA-Intangible Asset CL Current Liability, NCL-Non Current Liability, or SE- Stockholders' Equity. Use Column 3 to indicate whether...
Question 4 (3 points) Rocky Johnson just reported the following balance sheet for the end of 2018. Find the quick ratio for the firm. Format 1.23x as 1.23 Know Your Role Boulevard, LLC Assets: Cash and Marketable Securities $420,000 Accounts Receivable Inventory Total Current Assets Gross Fixed Assets Accumulated Depreciation $2,225,000 Net Fixed Assets Total Assets Liabilities and Shareholder Equity $ Accounts Payable Notes Payable Total Current Liabilities Long term Debt Total Liabilities Common Stock Retained Earnings Total Shareholder Equity...
True False Question 2 (3 points) Given a singly linked list with more than two nodes, to remove the second node from a linked list with only head reference, assume curr - head, next, you do Set curr.next to head.next Oset head. next to curr.next Set head, next to curr Oset head to curr.next TL th Question 3 (3 points) Given the following singly linked list (a list with four nodes), what will be the value stored at the last...
Need help with this question ASAP
3.00 points Problem 2-3 Dividends and Retained Earnings [LO 2] has sales of $591,000, costs of $267,000, depreciation expense of $68,000, interest expense of $35,000, and a tax rate of 30 percent The firm paid out $39,000 in cash dividends. Do not Hint#1 But
Use
the numbers above for a retained earnings sheet.
Question 3 View Policies Current Attempt in Progress These financial statement items are for Sheridan Company at year-end, July 31, 2022 Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable due in 2025) Common stock $4,100 59.100 17.300 17,620 4000 67,700 10.200 3.700 Accounts receivable Accumulated depreciation-couiment Dividends Depreciation expense Retained earnings beginning of the year 16,000 35.280 11.700 7400 4000...
10 points Saved QUESTION 3 What would be the cost of retained earnings equity for Tangshan Mining if the expected return on U.S. Treasury Bills is 5.00%, the market risk premium is 10.00 percent, and the firm's beta is 1.52 A 11.5% O 1.18.0% Oc 100% Op 20%
Next Page Page 3 of 5 Question 3 (2 points) Calculate ending equity if opening paid in capital (share capital) was $100,000 and retaining earnings were $10,000, but during the year recorded an after-tax profit of $30,000 and no dividends were paid out and no share activity took place. Record ending paid-in capital, retained earnings and total equity separately. O Ai e @ @
3) Cash Service Revenue Salaries Expense Accounts Payable C Retained Earnings Utilities Expense Accounts Receivable Common Stock Dividends How many of the above accounts have a normal debit balance? A) Six. C) Four D) Seven. 214) For a journal entry with only two lines, the following entry is valid: Increase in Revenue, Decrease in Expense A) True B) False 215) For a journal entry with only two lines, the following entry is valid Increase in Expense, Increase in Dividends. B)...
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded abbreviations for your answers. Use Column 1 to indicate whether the item is found on the Balance Sheet (BS) or Income Statement (IS) For Balance Sheet items, use Column 2 to indicate the following: CA Current Asset, NCA Non Current Asset, PPE- Property, Plant & Equipment, IA-Intangible Asset CL Current Liability, NCL-Non Current Liability, or SE- Stockholders' Equity. Use Column 3 to indicate whether...
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