module 9 discussion

The right side of the balance sheet shows the firm's liabilities and stockholders' equity. Which of the following best describes shareholders' equity? O Equity is the difference between the company's assets and liabilities. O Equity is the initial claim on value of the assets before the firm pays off its liabilities. NOW Inc. released its annual results and financial statements. Grace is reading the summary in the business pages of today's paper. In its annual report this year, NOW Inc. reported a net income of $116 million. Last year, the company reported a retained earnings balance of $595 million, whereas this year it increased to $700 million. How much was paid out in dividends this year? O $221 million O $6 million O $11 million O $60 million

The right side of the balance sheet shows the firm's liabilities and stockholders' equity. Which of the following best describes shareholders' equity? O Equity is the sum of what the initial stockholders paid when they bought company shares and the earnings that the company has retained over the years. O Equity is the difference between the paid-in capital and retained earnings. NOW Inc. released its annual results and financial statements. Grace is reading the summary in the business pages of today's paper. In its annual report this year, NOW Inc. reported a net income of $132 million. Last year, the company reported a retained earnings balance of $561 million, whereas this year it increased to $660 million. How much was paid out in dividends this year? O $170 million O $231 million O $33 million O $5 million

The company is desirous of comparing several financial transactions and possible outcomes to assist in guiding its decision-making process. It is assumed that the company will be formed on January 1, 2021 and registered as Osbourne Corporation. The company’s charter will authorize 1,000,000 shares of common stock and 400,000, $100 par value, 5% cumulative preferred stock. They have asked each student from your accounting course to prepare the company’s journal entries and statement of owner’s equity based on the following information which is grouped according to your surname name initial. Issued ________shares of common stock. Stock has par value of ___ per share and was issued at $____ per share. (please refer to table below) Surname Initial # of shares issued Par value Issue Price C 15,000                     $0.10 $30.00   Issued _______ shares of preferred stock at par value as payment in exchange for legal services. (please refer to table below)…

The company is desirous of comparing serval financial transactions and possible outcomes to assist in guiding its decision-making process. It is assumed that the company will be formed on January 1, 2021 and registered as Osbourne Corporation. The company’s charter will authorize 1,000,000 shares of common stock and 400,000, $100 par value, 5% cumulative preferred stock. They have asked each student from your accounting course to prepare the company’s journal entries and statement of owner’s equity based on the following information:  Issued 5000 shares of common stock. Stock has par value of $0.01 per share and was issued at $30 per share.  Issued 2000 shares of preferred stock at par value as payment in exchange for legal services. Exchanged 100,000 shares of common stock for land with an appraised value of $250,000.00 and a building with an appraised value of $450,000.00.  Earned Net income $500,000.00.  Paid dividends to preferred shareholders as well as $2 per share to common…

Your firm has been engaged to examine the financial statements of Buffalo Corporation for the year 2020. The bookkeeper who maintains the financial records has prepared all the unaudited financial statements for the corporation since its organization on January 2, 2015. The client provides you with the information. Buffalo CorporationBalance SheetDecember 31, 2020 Assets   Liabilities Current assets   $1,899,000   Current liabilities   $956,000 Other assets   5,138,660   Long-term liabilities   1,471,000         Stockholders’ equity   4,610,660     $7,037,660       $7,037,660   An analysis of current assets discloses the following.       Cash (restricted in the amount of $298,000 for plant expansion)   $582,000   Investments in land   187,000   Accounts receivable less allowance of $30,000   487,000   Inventories (LIFO flow assumption)   643,000     $1,899,000       Other assets include:       Prepaid expenses   $62,000   Plant…

Stockholders' equity The right side of the balance sheet shows the firm’s liabilities and stockholders’ equity. Which of the following best describes shareholders’ equity? Equity is the initial claim on value of the assets before the firm pays off its liabilities.   Equity is the difference between the company’s assets and liabilities.     NOW Inc. released its annual results and financial statements. Grace is reading the summary in the business pages of today’s paper. In its annual report this year, NOW Inc. reported a net income of $148 million. Last year, the company reported a retained earnings balance of $476 million, whereas this year it increased to $560 million. How much was paid out in dividends this year? $64 million   $232 million   $325 million   $4 million   Accounting statements represent a company’s earnings, but this is not the real cash that a company generates. Earnings data can be manipulated and can be deceiving. Thus,…

Stockholders' equity The right side of the balance sheet shows the firm’s liabilities and stockholders’ equity. Which of the following best describes shareholders’ equity? Equity is the initial claim on value of the assets before the firm pays off its liabilities.   Equity is the difference between the company’s assets and liabilities.     NOW Inc. released its annual results and financial statements. Grace is reading the summary in the business pages of today’s paper. In its annual report this year, NOW Inc. reported a net income of $148 million. Last year, the company reported a retained earnings balance of $476 million, whereas this year it increased to $560 million. How much was paid out in dividends this year? $64 million   $232 million   $325 million   $4 million

Your firm has been engaged to examine the financial statements of Almaden Corporation for the year 2020. The bookkeeper who maintains the financial records has prepared all the unaudited financial statements for the corporation since its organization on January 2, 2015. The client provides you with the following information. Almaden CorporationBalance SheetDecember 31, 2020 Assets   Liabilities Current assets    $1,881,100    Current liabilities    $  962,400 Other assets 5,171,400 Long-term liabilities 1,439,500     Stockholders' equity 4,650,600   $7,052,500   $7,052,500 An analysis of current assets discloses the following. Cash (restricted in the amount of $300,000 for plant expansion)    $  571,000 Investments in land 185,000 Accounts receivable less allowance of $30,000 480,000 Inventories (LIFO flow assumption) 645,100   $1,881,100 Other assets include: Prepaid expenses    $   62,400 Plant and equipment less accumulated depreciation of…

Please give the answer of the T-chart, I need in T-chart form like the picture shows

Your firm has been engaged to examine the financial statements of Teal Corporation for the year 2020. The bookkeeper who maintains the financial records has prepared all the unaudited financial statements for the corporation since its organization on January 2, 2015. The client provides you with the information. Teal CorporationBalance SheetDecember 31, 2020 Assets   Liabilities Current assets   $1,888,000   Current liabilities   $970,000 Other assets   5,114,480   Long-term liabilities   1,471,000         Stockholders’ equity   4,561,480     $7,002,480       $7,002,480   An analysis of current assets discloses the following.       Cash (restricted in the amount of $301,000 for plant expansion)   $582,000   Investments in land   185,000   Accounts receivable less allowance of $29,000   479,000   Inventories (LIFO flow assumption)   642,000     $1,888,000       Other assets include:       Prepaid expenses   $62,000   Plant and…

Derian, I anticipate an extended discussion on how to best leverage our financial capital to create competitive advantage during our next board meeting. With this in mind, I'd like to better understand the financial obligations of Erie. Industry experts are estimating Erie's balance sheet for the upcoming year to show: • Total Assets of $184,225 • Total Common Stock of $36,039 • Cash of $26,722 Retained Earnings of $52,783 What do we expect Erie's total liabilities to be? ● Michelle Cho Board Member, Strategy | Andrews Corporation $104,720 $95,403 $131,442 $68,681 Respond