Homework Answers
Answer :
| 67000 |
Explanation
Net Income = Revenue - Expenses
= $ 95000 - $ 28000
= $ 67000
Note -1
The Dividend is not an Expenses therefore not appear on company's income statement because it is not a operating expenses and A company's dividend policy can be reversed at any time.
Add Answer to:
During the year, A Salt & Buttery, Inc., had revenue of $95,000 of which $11,000 was...
During the year, A Salt & Buttery, Inc., had revenue of $86,000 of which $17,000 was...
During the year, A Salt & Buttery, Inc., had revenue of $86,000 of which $17,000 was collected from customers. It also had expenses of $29,000 of which $3,000 was paid. The owners were paid $20,000 in dividends. Net income for the year equals DO NOT INCLUDE $ IN ANSWER
During the year, A Salt & Buttery, Inc., had revenue of $77,000 of which $8,000 was...
During the year, A Salt & Buttery, Inc., had revenue of $77,000 of which $8,000 was collected from customers. It also had expenses of $26,000 of which $3,000 was paid. The owners were paid $20,000 in dividends. Net income for the year equals ______.
At the beginning of the year, Vendors, Inc., had owners' equity of $50,630. During the year,...
At the beginning of the year, Vendors, Inc., had owners' equity of $50,630. During the year, net income was $6850 and the company paid dividends of $4630. The company also repurchased $8930 in equity. What was the owners' equity account at the end of the year?
at the begining of the year, vendors, inc., had owners equity of $51,020. during the year,...
at the begining of the year, vendors, inc., had owners equity of $51,020. during the year, net income was $7,200 and the company paid dividends of $4,820. the company also repurchased $9220 in equity. what was the owners equity account at the end of the year?
At the beginning of the year, Vendors, Inc., had owners' equity of $50,435. During the year,...
At the beginning of the year, Vendors, Inc., had owners' equity of $50,435. During the year, net income was $6,675 and the company paid dividends of $4,535. The company also repurchased $8,785 in equity. What was the cash flow to stockholders for the year?
At the beginning of the year, Vendors, Inc, had owners' equity of $48,875. During the year,...
At the beginning of the year, Vendors, Inc, had owners' equity of $48,875. During the year, net income was $5,275 and the company paid dividends of $3,775. The company also repurchased $7,625 in equity. What was the cash flow to stockholders for the year? Multiple Choice $9125 -$3,850 $3,850 -$11,400 $11,400
During the year, Sand, Inc. had $120,000 in revenues, $48,000 in expenses, and paid $3,600 in...
During the year, Sand, Inc. had $120,000 in revenues, $48,000 in expenses, and paid $3,600 in dividends. Net income equals: Multiple Choice $72,000. $75,600 O $120,000 O O $68,400
Warner Island, Inc. began 2018 with cash of $75,000. During the year, Warner Island earned revenue...
Warner Island, Inc. began 2018 with cash of $75,000. During the year, Warner Island earned revenue of $240,000 and collected $90,000 from customers. Expenses for the year totaled $157,000, of which Warner Island paid $75,000 in cash to suppliers and $70,000 in cash to employees. The company received $2,500 cash for interest revenue and paid $15,000 for income taxes. Warner Island also paid $26,000 to purchase equipment and a cash dividend of $26,000 to its stockholders during 2018. Prepare the...
Jiminez, Inc., had the following transactions during the month of March, current year. Prepare an income...
Jiminez, Inc., had the following transactions during the month of March, current year. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement. Cash received from bank loans was $10,000. Revenues earned and received in cash were $9,000. Dividends of $4,000 were paid to stockholders. Expenses incurred and paid were $5,600. JIMINEZ, INC. Income Statement For the Month Ended March 31, Current Year Revenues $0
Tom Zopf owns and manages a computer repair service, which had the following trial balance on...
Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2019 (the end of its fiscal year). Credit Tablette Repair Service, Inc. Trial balance December 31, 2019 Debit Cash $ 8,000 Accounts Receivable 15,000 Supplies 11,000 Prepaid Rent 3,000 Equipment 21,000 Accounts Payable Common Stock Retained Earnings $58,000 $17,000 30,000 11,000 $58,000 Summarized transactions for January 2020 were as follows. 1. 2. 3. 4. 5. 6. 7. 8. Advertising costs, paid in...
During the year, A Salt & Buttery, Inc., had revenue of $86,000 of which $17,000 was collected from customers. It also had expenses of $29,000 of which $3,000 was paid. The owners were paid $20,000 in dividends. Net income for the year equals DO NOT INCLUDE $ IN ANSWER
At the beginning of the year, Vendors, Inc, had owners' equity of $48,875. During the year, net income was $5,275 and the company paid dividends of $3,775. The company also repurchased $7,625 in equity. What was the cash flow to stockholders for the year? Multiple Choice $9125 -$3,850 $3,850 -$11,400 $11,400
During the year, Sand, Inc. had $120,000 in revenues, $48,000 in expenses, and paid $3,600 in dividends. Net income equals: Multiple Choice $72,000. $75,600 O $120,000 O O $68,400
Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2019 (the end of its fiscal year). Credit Tablette Repair Service, Inc. Trial balance December 31, 2019 Debit Cash $ 8,000 Accounts Receivable 15,000 Supplies 11,000 Prepaid Rent 3,000 Equipment 21,000 Accounts Payable Common Stock Retained Earnings $58,000 $17,000 30,000 11,000 $58,000 Summarized transactions for January 2020 were as follows. 1. 2. 3. 4. 5. 6. 7. 8. Advertising costs, paid in...
Most questions answered within 3 hours.
-
Explain how each of the following three conditions could be a
red flag for a register...
asked 1 second ago -
In a two-way factorial ANOVA, the final F-ratio for
factor AxB is determined by dividing _____...
asked 30 minutes ago -
Show your solutions for answer.
4. An aqueous solution contains 9.21 g of
K4Fe(CN)6 in a...
asked 22 seconds ago -
The random variable X has a uniform distribution with values
between 16 and 18. What is...
asked 9 minutes ago -
Evaluate each of the following transactions in terms of their
effect on assets, liabilities, and equity....
asked 8 minutes ago -
The amounts of nicotine in a certain brand of cigarette are
normally distributed with a mean...
asked 29 minutes ago -
The commercial lending department of First Bank made a
substantial loan to Alpha Company after obtaining...
asked 14 minutes ago -
For a reaction, reagents --->products, it's forwarding rate
(rate of products formation) is proportional to the...
asked 27 minutes ago -
5)
Typically,
there will need to be a rather high degree of coordination and
interaction among...
asked 23 minutes ago -
if the marginal revenue on each MRI is $2500, and the
marginal cost for each is...
asked 25 minutes ago -
What did Butler and Hobbes contribute to our understanding of
utilitarianism?
asked 30 minutes ago -
History
Lincoln's religious thought was almost exclusively shaped by his
Calvinist upbringing.
True
False
QUESTION 6...
asked 29 minutes ago