The following are financial statements of Wildhorse Co.. Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Net sales $2,239,000 Cost of goods sold 1.015.000 Selling and administrative expenses 910,000 75,000 Interest expense Income tax expense 73,000 $ 166,000 Net income Wildhorse Co. Balance Sheet December 31, 2022 Assets Current assets Cash $ 56,200 Debt investments 87,000 Accounts...
On January 2, 2016, Alpha Corporation issued 15,000 shares of $10 par value common stock for $15 per share. On March 1, 2016, Alpha reacquired 1,000 of these shares when they were trading $20 each. September 1, 2016, when the market was soaring, Alpha reissued 500 shares of treasury stock at the going market rate of $22 per share. Use...
Exercise 11-6A Accounting for cumulative preferred dividends LO 11-3 When Crossett Corporation was organized in January Year 1, it immediately issued 5,200 shares of $50 par, 6 percent, cumulative preferred stock and 9,500 shares of $12 par common stock. Its earnings history is as follows: Year 1, net loss of $15700; Year 2.net income of $124,000; Year 3, net income...
Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 39,000 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities Net income 6,000 4,000 BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance 10,000 $ 7,000 $ 17,000 Issuances 1,100 1,100 Add: Net income Less: Dividends (3.000) (3,000) Ending balance...
Maxwell acquires 100 percent of the outstanding voting shares of Daisy Company on January 1, 2016. To obtain these shares, Maxwell pays $200,000 cash and issues 6,000 shares of $5 par value common stock on this date. Maxwell’s stock had a fair value of $20 per share. Maxwell also pays an additional $4,000 in stock issuance costs. At date of...
I need to find: A) the ending balance in Retained Earnings as of Dec 31, Year 4 B) The beginning balance in Retained Earnings as of Jan 1st, Year 4 Current Assets $900,000 Current Liabilities $400,000 Fixed Assets, Net $600,000 Investments $100,000 Long-Term Debt $500,00 Dividends Declared on Common Stock during the Year $50,000 Income Summary (income) $225,000 Retained Earnings,...
Please show all work and explanation. I leave thumbs up! On July 1, 2018, Angrist Inc issued 3-year bonds with a par value of $500,000. 5% interest is paid every December 31st and June 30th and the going market rate for comparable bonds was 4% (every six months). The bonds were callable at 109 at any date. Assume that there...
$ Cash Accounts receivable Supplies Equipment Land Building 7,000 30,600 1,530 10,300 7,400 26,600 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid in capital Retained earnings $ 9,600 3,340 47,600 1,600 6,400 14,890 a. Rebuilt and delivered five pianos in January to customers who paid $18,900 in cash. b. Received a $570 deposit from a customer who...
$ $ Cash Accounts receivable Supplies Equipment Land Building 6,700 30, 600 1,510 10,500 8,100 27,300 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,400 3,440 47,600 1,620 6,480 16,170 a. Rebuilt and delivered five planos in January to customers who paid $18,800 in cash. b. Received a $520 deposit from a customer who...
The following facts apply to the person plan of Tamar . for the year 2020 $55R ROO 55 800 Planets, January 1.2020 Projected benefit obligation January 1, 2020 Settlement rate Service cont Contribution funding Actual and expected return on planassets Benefits paid to retirees 2000 5700 Using the preceding data compute pensione accounts were amon ) for the year 2020....