Homework Answers
Ending paid-in capital = Opening share capital + Share activity
= 100,000 + 0
= $100,000 (Answer)
Ending Retained earnings = Opening retained earnings + Profit during the year
= 10,000 + 30,000
= $40,000 (Answer)
Ending Total equity = Ending paid-in capital + Ending Retained earnings
= 100,000 + 40,000
= $140,000 (Answer)
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Next Page Page 3 of 5 Question 3 (2 points) Calculate ending equity if opening paid...
Accountancy
Calculate monthly C.O.G.S. assuming a 30% mark-up and the following 6 month’s sales figures:$4000, $4500, $5000, $6000, $7500, $7500.Repeat calculations assuming gross contribution margin of 40%.Assuming average monthly sales of $50,000 and average monthly C.O.G.S. of $30,000, calculate the expected level ofReceivables if average collection period is 55 days.Inventory if you plan on average 40 days on hand.Assuming annual sales of $250,000 and a 50% gross (contribution) margin, calculate the followingAverage collection period if ending receivables total $45,000Ending days-on-hand of...
Please solve for part 2 of the question - stockholders equity. Net Income for 2021 is $96,700. Question 1 Stellar Comp...
Please solve for part 2 of the question -
stockholders equity. Net Income for 2021 is
$96,700.
Question 1 Stellar Company has the following stockholders' equity accounts at December 31, 2020. Common Stock ($100 par value, authorized 7,600 shares) Retained Earnings $505,600 291,700 Your answer is correct. Prepare entries in journal form to record the following transactions, which took place during 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the beginning of class on the date specified by your instructor Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the balance sheet at December 31, 2020: Common stock, $1 par value, 5,000,000 shares authorized, 670,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $670,000 1,420,000 2.900,000...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the beginning of class on the date specified by your instructor. Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the balance sheet at December 31, 2020: Common stock, $1 par value, 5,000,000 shares authorized, 670,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $670,000 1,420,000 2,900,000...
STATEMENT OF SHAREHOLDERS EQUITY Problem 7pts Using the activity listed and the starting balances in a...
STATEMENT OF SHAREHOLDERS EQUITY Problem 7pts Using the activity listed and the starting balances in a firm's Shareholder Equity, calculate/update the ending Shareholder balances. Net Income earned = 60,000 Dividends Paid = 20,000 Paid for Share Repurchases = 75,000 Other Comprehensive Income = 10,000 Common Share Issuance = $0 Common Stock & Retained Accumulated Other Treasury Total Shareholder Equity Paid in Capital Earnings Comprehensive Income Stock 300,000 200,000 60,000 (40,000) 520,000 « BEGINNING << ENDING
MCQ 1)All of the following must occur before a cash dividend can be paid except the...
MCQ 1)All of the following must occur before a cash dividend can be paid except the net realizable value of the company’s assets must exceed the total of its liabilities and share capital. the board of directors must approve the dividend. the company must have profit in the current year. the company must have sufficient cash or resources to be able to pay its liabilities. 2)The payout ratio is calculated by dividing total cash dividends paid by net income. dividends...
how can calculate 74) Bruce Corporation has the following shareholders’ equity on December 31, 2021: Shareholders'...
how can calculate 74) Bruce Corporation has the following shareholders’ equity on December 31, 2021: Shareholders' equity Share capital $ 10 convertible preferred shares, 10,000 shares authorized, 5,000 shares issued $ 570,000 Common shares, 200,000 shares authorized, 90,000 shares issued 1,800,000 Total share capital 2,370,000 Retained earnings 450,000 Total shareholders’ equity $ 2,820,000 If 10,000 common shares were reacquired for $ 17 per share, the journal entry to record the transaction would a) credit...
Question 10 Plasti-Pak Plastics has the following stockholders' equity accounts and amounts before paying dividends: Paid-in...
Question 10 Plasti-Pak Plastics has the following stockholders' equity accounts and amounts before paying dividends: Paid-in Capital $ 75,000 Retained Earnings 25,000 Total $100,000 Deduct: Treasury Stock 10,000 Total Stockholders' Equity $ 90,000 Assuming that Plasti-Pak Plastics is restricted from declaring dividends that would cause stockholders' equity to be less than total paid-in capital, what is the maximum amount of dividends Plasti-Pak Plastics's board could declare? $70,000 $15,000 $65,000 $25,000 $10,000
Left Time Exceeded Mahbub Abdulkadir: Attempt 1 Previous Page Next Page Page 2 of 14 Question...
Left Time Exceeded Mahbub Abdulkadir: Attempt 1 Previous Page Next Page Page 2 of 14 Question 2 (6 points) Wilma's Widgets had net sales of $3 in 2017. The cost of goods sold was $1,operating expenses (excluding depreciation) were $3,362,770, interest expenses were $ 992,168 depreciation expense was $1,315,870, and dividends paid were $422,999.The firm's tax rate is 35 percent. What did Wilma's Widgets report as earnings before interest and taxes (i.e. operating profit) in 2017? Record your answer rounded...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn entire booklet at the beginning of class on the date specified by your instructor Shown below is the stockholders' equity section of Holiday Travels balance sheet at December 31, 2019: Common stock, $2 par value, 5,000,000 shares authorized 390,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $780,000 1,060,000 2,330,000 $ 4.170.000 During 2020, the following events...
Please solve for part 2 of the question -
stockholders equity. Net Income for 2021 is
$96,700.
Question 1 Stellar Company has the following stockholders' equity accounts at December 31, 2020. Common Stock ($100 par value, authorized 7,600 shares) Retained Earnings $505,600 291,700 Your answer is correct. Prepare entries in journal form to record the following transactions, which took place during 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the beginning of class on the date specified by your instructor Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the balance sheet at December 31, 2020: Common stock, $1 par value, 5,000,000 shares authorized, 670,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $670,000 1,420,000 2.900,000...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn in the entire booklet at the beginning of class on the date specified by your instructor. Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the balance sheet at December 31, 2020: Common stock, $1 par value, 5,000,000 shares authorized, 670,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $670,000 1,420,000 2,900,000...
STATEMENT OF SHAREHOLDERS EQUITY Problem 7pts Using the activity listed and the starting balances in a firm's Shareholder Equity, calculate/update the ending Shareholder balances. Net Income earned = 60,000 Dividends Paid = 20,000 Paid for Share Repurchases = 75,000 Other Comprehensive Income = 10,000 Common Share Issuance = $0 Common Stock & Retained Accumulated Other Treasury Total Shareholder Equity Paid in Capital Earnings Comprehensive Income Stock 300,000 200,000 60,000 (40,000) 520,000 « BEGINNING << ENDING
Left Time Exceeded Mahbub Abdulkadir: Attempt 1 Previous Page Next Page Page 2 of 14 Question 2 (6 points) Wilma's Widgets had net sales of $3 in 2017. The cost of goods sold was $1,operating expenses (excluding depreciation) were $3,362,770, interest expenses were $ 992,168 depreciation expense was $1,315,870, and dividends paid were $422,999.The firm's tax rate is 35 percent. What did Wilma's Widgets report as earnings before interest and taxes (i.e. operating profit) in 2017? Record your answer rounded...
Project 3: Stockholders' Equity (10 points) Required: Answer the questions on the following page in this booklet and turn entire booklet at the beginning of class on the date specified by your instructor Shown below is the stockholders' equity section of Holiday Travels balance sheet at December 31, 2019: Common stock, $2 par value, 5,000,000 shares authorized 390,000 shares issued and outstanding Additional paid-in capital Retained earnings Total stockholders' equity $780,000 1,060,000 2,330,000 $ 4.170.000 During 2020, the following events...
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