Stockholders' Equity | ||||||||
Assets | = | Liabilities | + | PIC | + | RE | ||
Beginning: | 11900 | 5600 | 0 | 6300 | ||||
Changes: | 3100 | Net income | ||||||
-2300 | Dividends | |||||||
Ending: | 11800 | 4700 | 0 | 7100 | ||||
Beginning RE = Beginning Assets - Beginning Liabilities = 11,900 - 5,600 = 6,300 | ||||||||
Ending RE = Net assets at the end of the year = 7,100 | ||||||||
Ending Liabilities = Beginning liabilities - 900 = 4,700 | ||||||||
Ending Assets = Ending liabilities + Ending RE = 4,700 + 7,100 = 11,800 | ||||||||
Dividends = Beginning RE + Net income - Ending RE = 6,300 + 3,100 - 7,100 |
calculate dividends using the accounting equation Exercise 2-13 Calculate dividends using the accounting equation LO 2,3...
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 $14,700 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 $13,900 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 $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 $10,200 and liabilities of $5,400. During the year, liabilities decreased by $1,100. Net income for the year was $2,350, and net assets at the end of the year were $5,150. There were no changes in paid-in capital during the year. Required Calculate the dividends, if any, declared during the year. (Negative amounts should be indicated by a minus sign.) Stockholders' Equity Assets Liabilities PIC RE...
Pleas enter the correct answers.
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,500 and liabilities of $6.000. During the year, liabilities decreased by $1,000. Net income for the year was $2,600, and net assets at the end of the year were $7,000. 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...
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...
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 $14,000 and liabilities of $6,000. During the year, liabilities decreased by $1,100. Net income for the year was $3,350, and net assets at the end of the year were $8,950. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. (Negative amounts should be indicated by a minus sign.) Stockholders’ Equity Assets = Liabilities +...
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...