Stockholder's Equity | ||||||||
Asset | = | Liabilities | + | PIC | + | RE | ||
Beginning: | $ 12,900 | = | $ 5,900 | + | 0 | + | $ 7,000 | |
Changes: | $ -400 | = | $ -1,400 | + | 0 | + | $ -2,600 | Dividends |
= | + | + | $ 3,600 | Net Income | ||||
Ending: | $ 12,500 | = | $ 4,500 | + | 0 | + | $ 8,000 | |
Workings: | ||||||||
Net Assets | = | Total Assets | - | Total Liabilities | ||||
$ 8,000 | = | Total Assets | - | $ 4,500 | ||||
Total Assets | = | $ 12,500 | ||||||
Total RE | = | Total Assets | - | Total Liabilities | ||||
= | $ 12,500 | - | $ 4,500 | |||||
= | $ 8,000 | |||||||
Dividends | = | Total RE | - | Net Income | - | Beginning RE | ||
= | $ 8,000 | - | $ 3,600 | - | $ 7,000 | |||
= | $ -2,600 | |||||||
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,900...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $11,100 and liabilities of $5,200. During the year, liabilities decreased by $1,400. Net income for the year was $3,400, and net assets at the end of the year were $6,700. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $13,900 and liabilities of $6,900. During the year, liabilities decreased by $900. Net income for the year was $2,750, and net assets at the end of the year were $7,150. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,200 and liabilities of $6,600. During the year, liabilities decreased by $800. Net income for the year was $2,800, and net assets at the end of the year were $5,800. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $6,000. During the year, liabilities decreased by $1,100. Net income for the year was $3,100, and net assets at the end of the year were $9,600. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $13,300 and liabilities of $6.400. During the year, liabilities decreased by $1,300. Net income for the year was $3,700, and net assets at the end of the year were $7,900. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,700 and liabilities of $6,000. During the year, liabilities decreased by $1,100. Net income for the year was $3,100, and net assets at the end of the year were $9,600. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,400 and liabilities of $6,000. During the year, liabilities decreased by $1,300. Net income for the year was $3,200, and net assets at the end of the year were $8,900. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $13,600 and liabilities of $6,700. During the year, liabilities decreased by $900. Net income for the year was $2.900, and net assets at the end of the year were $7.700. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.’s balance sheet showed assets of $15,000 and liabilities of $6,500. During the year, liabilities decreased by $1,000. Net income for the year was $2,450, and net assets at the end of the year were $9,050. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative...
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $13,600 and liabilities of $6,700. During the year, liabilities decreased by $900. Net income for the year was $2,900, and net assets at the end of the year were $7,700. There were no changes in paid-in capital during the year. points Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect (Enter decreases with a minus sign to indicate a...