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Homework Answers
Given Information
Total Assets = 450000
Total Liabilities = 250000
Revenue = 735000
Costs and expenses = 430000
Dividends paid = 105000
a. Stock holders’ equity beginning of the year=Total Assets - Total Liability
= 450000-250000
=200000.
b. Profit for the year =Revenue – Costs and expenses
= 735000 – 430000
= 305000
c. Shareholders’ equity at the end of the year
= Opening balance + Retained earnings*
=200000 + 200000
= 400000
*Retained Earnings = Profit – Dividend
=305000 – 105000
= 200000
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3. Restaurant...
1. Complete the following Balance SheeEquations: Assets Liability Stockholders' Equity a. 245000 130000 ? b. 318000...
1. Complete the following Balance SheeEquations: Assets Liability Stockholders' Equity a. 245000 130000 ? b. 318000 Liability is twice the Stockholders' Equity c. ? Liability is half the Stockholders' Equity 168000 2. The following is record of Restaurant 2313's purchases and sales of wines: March 2: Purchased 12 bottles of M&B wine @$12.50 each March 16: Purchased 24 bottles of M&B wine @$13.50 each March 31: Sold 32 bottles during March @$26 each. Determine the value of El and CoS...
Please show your work and explain for me so I can understand better please. 1. Complete...
Please show your work and explain for me so I can understand
better please.
1. Complete the following Balance Sheet Equations: Assets Liability Stockholders' Equity a. 245000 130000 ? b. 318000 Liability is twice the Stockholders' Equity c. ? Liability is half the Stockholders' Equity 168000
Please show your work and explain for me so I can understand better please. 2. The...
Please show your work and explain for me so I can understand
better please.
2. The following is record of Restaurant 2313's purchases and sales of wines: March 2: Purchased 12 bottles of M&B wine @$12.50 each March 16: Purchased 24 bottles of M&B wine @$13.50 each March 31: Sold 32 bottles during March @$26 each. a. Determine the value of El and CoS for wines in March using: First-in, First-out method (FIFO) b. Last-in, First-out method (LIFO)
Please use hand work and formulas as it helps me better understand. Thank you so much!...
Please use hand work and formulas as it helps me better
understand. Thank you so much!
Assets Cash and Marketable Securities Accounts Receivable Inventories Total Current Assets Net plant and equipment TOTAL ASSETS 2017 130 4875 7995 13000 13000 26000 2016 1040 4095 5395 10530 11310 21840 Liabilities and Equity Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Bonds TOTAL DEBT Preferred Stock Common Stock Retained earnings TOTAL COMMON EQUITY TOTAL LIABILITIES AND EQUITY 2017 780 1820 1430...
Please, someone, help me! If you do please show working out for me to understand. Thank...
Please, someone, help me! If you do please show working
out for me to understand. Thank you.
Measures of liquidity, Solvency, and Profitability The
comparative financial statements of Marshall Inc. are as follows.
The market price of Marshall common stock was $ 65 on December 31,
20Y2.
Marshall Inc.
Comparative Retained Earnings
Statement
For the Years Ended December 31, 20Y2 and
20Y1
20Y2
20Y1
Retained earnings, January 1
$1,262,900
$1,069,600
Net income
300,000
219,100
Total
$1,562,900
$1,288,700
Dividends:
On preferred...
please explain in depth so i can see how to get there At the beginning of...
please explain in depth so i
can see how to get there
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $352,000. During the year, liabilities decreased by $19,800, assets increased by $71,500, and paid-in capital increased from $33,000 to $211,200. Dividends declared and paid during the year were $27,500. At the end of the year, stockholders' equity totaled $471,900. Required: Calculate net income (or loss) for the year. Indicate the financial...
Pharoah Company started the year with total assets of $315000 and total liabilities of $255000. During...
Pharoah Company started the year with total assets of $315000 and total liabilities of $255000. During the year the business recorded $632000 in revenues 5326000 in expenses, and dividends of $63000. Stockholders equity at the end of the year was $240000 5366000 5303000 5273000
Please use hand work and formulas as I cannot use excel and it helps me better...
Please use hand work and formulas as I cannot use excel and it
helps me better understand. Thank you!
Assets Cash and Marketable Securities Accounts Receivable Inventories Total Current Assets Net plant and equipment TOTAL ASSETS 2017 130 4875 7995 13000 13000 26000 2016 1040 4095 5395 10530 11310 21840 Liabilities and Equity Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Bonds TOTAL DEBT Preferred Stock Common Stock Retained earnings TOTAL COMMON EQUITY TOTAL LIABILITIES AND EQUITY 2017...
I got the answers wrong. Can someone help me figure out answers please? At the beginning...
I got the answers wrong. Can someone help me figure out answers
please?
At the beginning of 2015, Barth Company reported the following balance sheet. Assets Liabilities Cash $1,200 Accounts Payable $3,000 Accounts Receivable 3,675 Equity Equipment 2,500 Common Stock 11,875 Land 12,500 Retained Earnings 5,000 Total Assets $19,875 Total Liabilities and Equity $19,875 Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $2,200; Accounts Receivable, $4,600; Equipment, $2,250; Land, $12,500; and Accounts...
Jimmy's Repair Shop started the year with total assets of $100,000 and total liabilities of $80,000....
Jimmy's Repair Shop started the year with total assets of $100,000 and total liabilities of $80,000. During the year the business recorded $210,000 in revenues, $110,000 in expenses, and dividends of $20,000. Stockholders' equity at the end of the year was a. $120,000. b. $100,000 C. $80,000. d. $90,000.
1. Complete the following Balance SheeEquations: Assets Liability Stockholders' Equity a. 245000 130000 ? b. 318000 Liability is twice the Stockholders' Equity c. ? Liability is half the Stockholders' Equity 168000 2. The following is record of Restaurant 2313's purchases and sales of wines: March 2: Purchased 12 bottles of M&B wine @$12.50 each March 16: Purchased 24 bottles of M&B wine @$13.50 each March 31: Sold 32 bottles during March @$26 each. Determine the value of El and CoS...
Please show your work and explain for me so I can understand
better please.
1. Complete the following Balance Sheet Equations: Assets Liability Stockholders' Equity a. 245000 130000 ? b. 318000 Liability is twice the Stockholders' Equity c. ? Liability is half the Stockholders' Equity 168000
Please show your work and explain for me so I can understand
better please.
2. The following is record of Restaurant 2313's purchases and sales of wines: March 2: Purchased 12 bottles of M&B wine @$12.50 each March 16: Purchased 24 bottles of M&B wine @$13.50 each March 31: Sold 32 bottles during March @$26 each. a. Determine the value of El and CoS for wines in March using: First-in, First-out method (FIFO) b. Last-in, First-out method (LIFO)
Please use hand work and formulas as it helps me better
understand. Thank you so much!
Assets Cash and Marketable Securities Accounts Receivable Inventories Total Current Assets Net plant and equipment TOTAL ASSETS 2017 130 4875 7995 13000 13000 26000 2016 1040 4095 5395 10530 11310 21840 Liabilities and Equity Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Bonds TOTAL DEBT Preferred Stock Common Stock Retained earnings TOTAL COMMON EQUITY TOTAL LIABILITIES AND EQUITY 2017 780 1820 1430...
Please, someone, help me! If you do please show working
out for me to understand. Thank you.
Measures of liquidity, Solvency, and Profitability The
comparative financial statements of Marshall Inc. are as follows.
The market price of Marshall common stock was $ 65 on December 31,
20Y2.
Marshall Inc.
Comparative Retained Earnings
Statement
For the Years Ended December 31, 20Y2 and
20Y1
20Y2
20Y1
Retained earnings, January 1
$1,262,900
$1,069,600
Net income
300,000
219,100
Total
$1,562,900
$1,288,700
Dividends:
On preferred...
please explain in depth so i
can see how to get there
At the beginning of the current fiscal year, the balance sheet for Davis Co. showed liabilities of $352,000. During the year, liabilities decreased by $19,800, assets increased by $71,500, and paid-in capital increased from $33,000 to $211,200. Dividends declared and paid during the year were $27,500. At the end of the year, stockholders' equity totaled $471,900. Required: Calculate net income (or loss) for the year. Indicate the financial...
Pharoah Company started the year with total assets of $315000 and total liabilities of $255000. During the year the business recorded $632000 in revenues 5326000 in expenses, and dividends of $63000. Stockholders equity at the end of the year was $240000 5366000 5303000 5273000
Please use hand work and formulas as I cannot use excel and it
helps me better understand. Thank you!
Assets Cash and Marketable Securities Accounts Receivable Inventories Total Current Assets Net plant and equipment TOTAL ASSETS 2017 130 4875 7995 13000 13000 26000 2016 1040 4095 5395 10530 11310 21840 Liabilities and Equity Accounts Payable Notes Payable Accruals Total Current Liabilities Long Term Bonds TOTAL DEBT Preferred Stock Common Stock Retained earnings TOTAL COMMON EQUITY TOTAL LIABILITIES AND EQUITY 2017...
I got the answers wrong. Can someone help me figure out answers
please?
At the beginning of 2015, Barth Company reported the following balance sheet. Assets Liabilities Cash $1,200 Accounts Payable $3,000 Accounts Receivable 3,675 Equity Equipment 2,500 Common Stock 11,875 Land 12,500 Retained Earnings 5,000 Total Assets $19,875 Total Liabilities and Equity $19,875 Required a. At the end of 2015, Barth Company reported the following assets and liabilities: Cash, $2,200; Accounts Receivable, $4,600; Equipment, $2,250; Land, $12,500; and Accounts...
Jimmy's Repair Shop started the year with total assets of $100,000 and total liabilities of $80,000. During the year the business recorded $210,000 in revenues, $110,000 in expenses, and dividends of $20,000. Stockholders' equity at the end of the year was a. $120,000. b. $100,000 C. $80,000. d. $90,000.
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