Ending liabilities are 69,250, beginning equity was $88,500, common stock issued during year totaled $32,500, expenses...
Ending liabilities are 69,250, beginning equity was $88,500, common stock issued during year totaled $32,500, expenses for the year were $23,500, dividends declared totaled $14,500, ending equity for the year is $184,700, and beginning assets for the year were $225,100. What was beginning liabilities for the year? $253,950 $217,200 $157,750 $136,600 $155,850
Homework Answers
Answer
- Accounting Equation states that:
Assets = Liabilities + Equity.
Hence,
Beginning Assets = Beginning Liabilities + Beginning equity
$ 225,100= Beginning Liabilities + $ 88,500
225100 – 88500 = Beginning Liabilities
$ 136,600 = Beginning Liabilities - Correct Answer =
Option #4: $ 136,600
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Ending liabilities are 69,250, beginning equity was $88,500,
common stock issued during year totaled $32,500, expenses...
Ending liabilities are 69,250, beginning equity was $88,500, common stock issued during year totaled $32,500, expenses...
Ending liabilities are 69,250, beginning equity was $88,500, common stock issued during year totaled $32,500, expenses for the year were $23,500, dividends declared totaled $14,500, ending equity for the year is $184,700, and beginning assets for the year were $225,100. What was beginning liabilities for the year? Multiple Choice $217,200 $155,850 $136,600 $157750 $253,950 Return on assets is: Computed by multiplying net income by average total assets. Computed by dividing net income by average total assets. Used in helping evaluate...
Ending liabilities are 67,200, beginning equity was $87,400, common stock issued during year totaled $31,200, expenses...
Ending liabilities are 67,200, beginning equity was $87,400, common stock issued during year totaled $31,200, expenses for the year were $22,200, dividends declared totaled $13,200, ending equity for the year is $181,500, and beginning assets for the year were $222,400. What are the ending assets for the year? $212,700 $248,700 $155,000 $134,400 $154,600
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities...
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...
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...
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...
Assets totaled $24,550 and liabilities totaled $8,530 at the beginning of the year. During the year,...
Assets totaled $24,550 and liabilities totaled $8,530 at the beginning of the year. During the year, assets decreased by $3,530 and liabilities increased by $2,830. What is the amount of the change in stockholders' equity during the year? $700 decrease $6,360 decrease $610 increase $5,810 increase
Assets totaled $26,150 and liabilities totaled $8,690 at the beginning of the year. During the year,...
Assets totaled $26,150 and liabilities totaled $8,690 at the beginning of the year. During the year, assets decreased by $3,690 and liabilities increased by $2,990. What is the amount of the change in stockholders' equity during the year? Multiple Choice Ο $6,130 increase Ο $700 decrease Ο $6,680 decrease Ο $930 increase
For the current accounting year, beginning and ending total liabilities were S15,000 and $31,000, respectively. At...
For the current accounting year, beginning and ending total liabilities were S15,000 and $31,000, respectively. At year-end, owner's equity amounted to S29,000, and total assets were $21,000 larger than at the beginning of the year. If the common stock sold to owners during the year amounted to $5,000 and dividends paid to owners totaled $2,000, net income or net loss for the year was: A $10,000 net loss B. S5,000 net income C. $2,000 net income D. S10,000 net income...
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities...
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:...
A company's assets totaled $24,350 and liabilities totaled $8,510 at the beginning of the year. During...
A company's assets totaled $24,350 and liabilities totaled $8,510 at the beginning of the year. During the year, adets decreased by $3,510 and liabilities increased by $2,810. What is the amount of stockholders' equity at the end of the year? Multiple Choice o $14.520 $15.140 o $9,520 $15.840
Ending liabilities are 69,250, beginning equity was $88,500, common stock issued during year totaled $32,500, expenses for the year were $23,500, dividends declared totaled $14,500, ending equity for the year is $184,700, and beginning assets for the year were $225,100. What was beginning liabilities for the year? Multiple Choice $217,200 $155,850 $136,600 $157750 $253,950 Return on assets is: Computed by multiplying net income by average total assets. Computed by dividing net income by average total assets. Used in helping evaluate...
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 $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...
Assets totaled $26,150 and liabilities totaled $8,690 at the beginning of the year. During the year, assets decreased by $3,690 and liabilities increased by $2,990. What is the amount of the change in stockholders' equity during the year? Multiple Choice Ο $6,130 increase Ο $700 decrease Ο $6,680 decrease Ο $930 increase
For the current accounting year, beginning and ending total liabilities were S15,000 and $31,000, respectively. At year-end, owner's equity amounted to S29,000, and total assets were $21,000 larger than at the beginning of the year. If the common stock sold to owners during the year amounted to $5,000 and dividends paid to owners totaled $2,000, net income or net loss for the year was: A $10,000 net loss B. S5,000 net income C. $2,000 net income D. S10,000 net income...
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:...
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