Following are some data from the financial records of Enteng Corporation: How much is the retained earnings balance as of the end of 200B? 200B200AP 500,000P 375,000SalesCommon Stock125,000Retained Ea rnings105,000DIvidend Pa yout RatioAfter Tax profit40%4% of SalesCash12% of SalesAccounts Re celvable18% of SalesInventory30% of SalesFlxed Assets, net40% of SalesAccounts Pa ya ble20% of SalesAccruals5% of Sales

After tax Profit = sales x 4% sales = 500,000 x 4% = 20,000 Dividend Payout ratio=40% it means…

Answered: 2008 200A Sales P 500,000 P 375,000…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Required: 1. Present component percentages for Year 2 only. (Input all amounts as positive values. Round the final answers to the nearest whole percent. Percentages may not add exactly due to rounding.) Statement of earnings: Sales revenue Cost of sales Gross margin Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings Statement of financial position: Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Total assets Current liabilities Long-term liabilities Common shares Retained earnings Total liabilities and shareholders' equity Component Percentages Year 2 % do % 0 % de % 0 % % 0 % do do do do do % % % % 0 % % % % % 0 %
Origami Inc. reported the following items on its financial statements for the year ended December 31, 2020: Sales $780,000 Selling and general expenses 20,000 Dividends 5,000 Cost of sales 700,000 Other expenses 15,000 Income tax expense 12,500 What amount will be reported as retained earnings on the December 31, 2020 balance sheet, assuming this is the first year of operations? Select one: a. Cannot be determined from the information provided b. $22,500 c. $42,500 d. $27,500
please see attached file
How do I complete the statement of earnings, specifically the expenses, from the tral balance provided
What is the earnings per share if the net income is $1,019.20 and the shares outstanding are 1,032,271.
Hoya Corporation reports the following amounts: Assets = $16,400; Liabilities = $1,400; Stockholders’ equity = $15,000; Dividends = $1,400; Revenues = $13,800; and Expenses = $10,400. What amount is reported for net income?
Directions shown in picture attached.
Information from the Balance Sheet and Statement of Income are given below for Bramble Inc., a private company reporting under ASPE, for the year ended December 31. Comparative Balance Sheet Cash Accounts receivable Inventory Investments in land Property, plant, and equipment Accumulated depreciation Accounts payable Accrued expenses payable Bonds payable Common shares Retained earnings Retained earnings Revenues Sales Expenses 2021 $78,110 Profit 90,940 123,440 86.540 286,640 (50,060) $615,610 Gain on disposal of equipment Additional Informati $54,140 13,140 140,000 250,000 158,330 Cost of goods sold Depreciation expense Operating expenses Income tax expense Interest expense 2020 $47,350 37,350 103,750 108,350 202,200 (40,200) $458,800 $49,850 19,250 76,000 207,000 106,700 158,330 $615,610 $ 96,250 57,300 15,470 38,000 2,950 106,700 $458,800 $292,500 8,350 300,850 209,970 $ 90,880
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $34,000; Liabilities = ?; Common Stock = $6,400; Revenue = $13,800; Dividends = $1,450; Beginning Retained Earnings = $4,450; Ending Retained Earnings = $8,400.The amount of liabilities reported on the end-of-period balance sheet was:
The year-end financial statements of Greenway Company contained the following elements and corresponding amounts: Assets = $23,000; Liabilities = ?; Common Stock = $5,300; Revenue = $11,600; Dividends = $900; Beginning Retained Earnings = $3,900; Ending Retained Earnings = $7,300. The amount of liabilities reported on the end-of-period balance sheet was A. $11,200. B. $10,400. C. $13,800. D. $9,200.
The comparative financial statements prepared at December 31, Year 2, for Goldfish Company showed the following summarized data: Statement of Earnings Sales revenue Cost of sales Gross profit Operating expenses and interest expense Earnings before income taxes Income tax expense Net earnings Statement of Financial Position Cash Accounts receivable (net) Inventory Property, plant, and equipment (net) Current liabilities (no interest) Long-term debt (interest rate: 10%) Common shares (6,000 shares) Retained earningst Year 2 Year 1 $367,950 $310,000 312,178 262,000 55,780 48,000 37,410 33,400 18,370 6,310 14,600 4,800 $ 12,060 $ 9,800 $ 4,270 $ 8,400 16,830 48,350 29,810 $ 99,260 $ 11,820 40,480 24,000 22,960 20,000 42,000 25,000 $ 95,400 $14,200 39,200 24,000 18,000 Required: 1 Complete the following columns for each item in the comparative financial statements (Negative answers should be indicated by a minus sign. Round percentage answers to 2 decimal places, Le., 0.1243 should be…
Hoya Corporation reports the following amounts: Assets = $22,500; Liabilities = $2,500; Stockholders’ equity = $20,000; Dividends = $2,500; Revenues = $16,000; and Expenses = $11,500. What amount is reported for net income?

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2008 200A Sales P 500,000 P 375,000 Common Stock 125,000 Retained Eamings 105,000 Dividend Pa yout Ratio 40% After Tax profit 4% of Sales Cash 125% of Sales Accounts Recelvable 18% of Sales Inventory 30% of Sales Flxed Assets, net 40% of Sales Accounts Pa ya ble 20% of Sales Accruals 5% of Sales