Homework Answers
Excercise 1-14A
Total Stockholder's Equity increased Between 2 years = $65000
Stockholder's Equity = Stockholder's equity at the beginning of the year + New Issue of Common Stock + (Income during the year- dividend paid)
Hence,Income for 2nd Year = Total Stockholder's Equity increased + Dividend Paid - New Issue of Common Stock
= 65000 + 5000 - 20000 = $50000
Add Answer to:
SA Exercise 1-14A Missing information for determining net income The December 31, Year 1, balance sheet...
Exercise 1-14A Missing information for determining net income LO 1-7 1 nts Book The December 31,...
Exercise 1-14A Missing information for determining net income LO 1-7 1 nts Book The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of common stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2 Required Determine the amount of net income or...
Check my work 8. Pratt Corp. started the Year 2 accounting period with total assets of...
Check my work 8. Pratt Corp. started the Year 2 accounting period with total assets of $30,000 cash $12,000 of liabilities, and $5,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $7,550. The bookkeeper reported that Pratt paid cash expenses of $26,000 and paid a $2,000 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that Pratt received for performing services. Pratt also paid $3,000...
The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $75,000....
The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $75,000. Total stockholders' equity increased by $50,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $10,000 cash from the issue of common stock. Deen Company paid a $8,000 cash dividend to the stockholders during Year 2 Required Determine the amount of net income or loss Deen reported on its Year 2 income statement. (Hint Remember that stock...
Check my work 9 statements LO 1-2, 1-3, 1-5, 1-6, 1-7 [The following information applies to...
Check my work 9 statements LO 1-2, 1-3, 1-5, 1-6, 1-7 [The following information applies to the questions displayed below.) Part 2 of 2 11.12 points Pratt Corp. started the Year 2 accounting period with total assets of $30,000 cash, $12,000 of liabilities, and $5,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $7,550. The bookkeeper reported that Pratt paid cash expenses of $26,000 and paid a $2,000 cash dividend to stockholders, but...
Ch 1 Homework Part 3 of 5 Required information Problem 1-33A Interrelationships among financial statements LO...
Ch 1 Homework Part 3 of 5 Required information Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3, 1-5, 1-6, 1-7 The following information applies to the questions displayed below.) 66 pints Pratt Corp. started the Year 2 accounting period with total assets of $34.000 cash, $14,000 of liabilities, and $9,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $11,550. The bookkeeper reported that Pratt paid cash expenses of $28,000 and paid a...
Part 5 of 5 Required information Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3,1-5, 1-6,...
Part 5 of 5 Required information Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3,1-5, 1-6, 1-7 The following information applies to the questions displayed below) Pratt Corp. started the Year 2 accounting period with total assets of $34.000 cash, $14,000 of liabilities, and $9,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $11,550. The bookkeeper reported that Pratt paid cash expenses of $28.000 and paid a $2,400 cash dividend to stockholders, but...
Required information (The following information applies to the questions displayed below] Pratt Corp. started the Year...
Required information (The following information applies to the questions displayed below] Pratt Corp. started the Year 2 accounting period with total assets of $36,000 cash, $15,000 of liabilities, and $11,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $13,550. The bookk keeper reported that Pratt paid cash expenses of $29,000 and paid a $2.600 cash dividend to stockholders, but 9,000 cash to reduce the liability owed to a bank, and the business acquired...
The following information applies to the questions displayed below) Part 4 of 5 Pratt Corp. started...
The following information applies to the questions displayed below) Part 4 of 5 Pratt Corp. started the Year 2 accounting period with total assets of $34.000 cash. $14,000 of liabilities, and $9.000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $11,550. The bookkeeper reported that Pratt paid cash expenses of $28,000 and paid a $2.400 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that...
Exercise 1-7A Missing information and recording events LO 1-4 As of December 31 Year 1. Moss...
Exercise 1-7A Missing information and recording events LO 1-4 As of December 31 Year 1. Moss Company had total cash of $166,000, notes payable of $86,600, and common stock of $53.400. During Year 2 Moss earned $46,000 of cash revenue, paid $25,000 for cash expenses, and paid a $4,000 cash dividend to the stockholders Required o. Determine the amount of retained earnings as of December 31, Year 1 b.& c. Create an accounting equation and record the beginning account balances,...
As of December 31, Year 1, Moss Company had total cash of $165,000 notes payable of...
As of December 31, Year 1, Moss Company had total cash of $165,000 notes payable of $86,500, and common stock of $53,300. During Year 2. Moss earned $45,000 of cash revenue, paid $24.500 for cash expenses, and paid a $3.900 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31 Year 1. Rotained earnings nces b.& c. Create an accounting equation and record the beginning account balances, revenue expense and dividend events under...
Exercise 1-14A Missing information for determining net income LO 1-7 1 nts Book The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $156,000. Total stockholders' equity increased by $65,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $20,000 cash from the issue of common stock. Deen Company paid a $5,000 cash dividend to the stockholders during Year 2 Required Determine the amount of net income or...
Check my work 8. Pratt Corp. started the Year 2 accounting period with total assets of $30,000 cash $12,000 of liabilities, and $5,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $7,550. The bookkeeper reported that Pratt paid cash expenses of $26,000 and paid a $2,000 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that Pratt received for performing services. Pratt also paid $3,000...
The December 31, Year 1, balance sheet for Deen Company showed total stockholders' equity of $75,000. Total stockholders' equity increased by $50,000 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $10,000 cash from the issue of common stock. Deen Company paid a $8,000 cash dividend to the stockholders during Year 2 Required Determine the amount of net income or loss Deen reported on its Year 2 income statement. (Hint Remember that stock...
Check my work 9 statements LO 1-2, 1-3, 1-5, 1-6, 1-7 [The following information applies to the questions displayed below.) Part 2 of 2 11.12 points Pratt Corp. started the Year 2 accounting period with total assets of $30,000 cash, $12,000 of liabilities, and $5,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $7,550. The bookkeeper reported that Pratt paid cash expenses of $26,000 and paid a $2,000 cash dividend to stockholders, but...
Ch 1 Homework Part 3 of 5 Required information Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3, 1-5, 1-6, 1-7 The following information applies to the questions displayed below.) 66 pints Pratt Corp. started the Year 2 accounting period with total assets of $34.000 cash, $14,000 of liabilities, and $9,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $11,550. The bookkeeper reported that Pratt paid cash expenses of $28,000 and paid a...
Part 5 of 5 Required information Problem 1-33A Interrelationships among financial statements LO 1-2, 1-3,1-5, 1-6, 1-7 The following information applies to the questions displayed below) Pratt Corp. started the Year 2 accounting period with total assets of $34.000 cash, $14,000 of liabilities, and $9,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $11,550. The bookkeeper reported that Pratt paid cash expenses of $28.000 and paid a $2,400 cash dividend to stockholders, but...
Required information (The following information applies to the questions displayed below] Pratt Corp. started the Year 2 accounting period with total assets of $36,000 cash, $15,000 of liabilities, and $11,000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $13,550. The bookk keeper reported that Pratt paid cash expenses of $29,000 and paid a $2.600 cash dividend to stockholders, but 9,000 cash to reduce the liability owed to a bank, and the business acquired...
The following information applies to the questions displayed below) Part 4 of 5 Pratt Corp. started the Year 2 accounting period with total assets of $34.000 cash. $14,000 of liabilities, and $9.000 of retained earnings. During the Year 2 accounting period, the Retained Earnings account increased by $11,550. The bookkeeper reported that Pratt paid cash expenses of $28,000 and paid a $2.400 cash dividend to stockholders, but she could not find a record of the amount of cash revenue that...
Exercise 1-7A Missing information and recording events LO 1-4 As of December 31 Year 1. Moss Company had total cash of $166,000, notes payable of $86,600, and common stock of $53.400. During Year 2 Moss earned $46,000 of cash revenue, paid $25,000 for cash expenses, and paid a $4,000 cash dividend to the stockholders Required o. Determine the amount of retained earnings as of December 31, Year 1 b.& c. Create an accounting equation and record the beginning account balances,...
As of December 31, Year 1, Moss Company had total cash of $165,000 notes payable of $86,500, and common stock of $53,300. During Year 2. Moss earned $45,000 of cash revenue, paid $24.500 for cash expenses, and paid a $3.900 cash dividend to the stockholders. Required a. Determine the amount of retained earnings as of December 31 Year 1. Rotained earnings nces b.& c. Create an accounting equation and record the beginning account balances, revenue expense and dividend events under...
Most questions answered within 3 hours.
-
Industry: Telecommunications in India
Here, you need to discuss the sources of the growth pattern
and...
asked 30 minutes ago -
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 2 hours ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 3 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 4 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 5 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 7 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 6 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 7 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 7 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 7 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 7 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 8 hours ago