3. Majaan Company reported the following information for 2010Sales revenue$500,000Unrealized holding gain on available-for-salesecurities 20,000Cash dividends received on the securities 2,000Cost of goods sold350,000Operating expenses55,000For 2010 Majaan would report comprehensive income of....4. Net income minus preferred dividends divided by the weighted average of sharesoutstanding....5. Reem.'s trial balance reflected the following account balances at December 31,2020:Accounts receivable (net) $24,000Equipment 25,000Trading securities 6.000Patent 4,000Accumulated depreciation on equipment and furniture 15,000Prepaid expenses 2,000Cash 11,000Land held for future business site 18,000Inventory 30,000In Reem's December 31, 2020 balance sheet, the current assets total is 9. Which of the following is a change in accounting principle?a. a change in the estimated service life of machineryb. a change from FIFO to LIFOc. a change from straight-line to double-declining-balanced. a change from FIFO to LIFO and a change from straight-line to double-declining-balance10. For Mortenson Company, the following information is available:Cost of goods sold$ 60,000Income tax expense 6,000Dividend revenue2,500Operating expenses 23,000Sales 100,000In Mortenson's multiple-step income statement, gross profit:a. should not be reportedb. should be reported at $13,500.c. should be reported at $40,000.d. should be reported at $42,500.3.

3) Comprehensive Income = Net Income + Other Comprehensive Income 4) Basic Earnings per share = Net…

3. Majaan Company reported the following information for 2010 Sales revenue$500,000 Unrealized holding gain on available-for-sale securities 20,000 Cash dividends received on the securities 2,000 Cost of goods sold350,000 Operating expenses55,000 For 2010 Majaan would report comprehensive income of... 4. Net income minus preferred dividends divided by the weighted average of shares outstanding..... 5. Reem.'s trial balance reflected the following account balances at December 31, 2020:

3. Majaan Company reported the following information for 2010 Sales revenue$500,000 Unrealized holding gain on available-for-sale securities 20,000 Cash dividends received on the securities 2,000 Cost of goods sold350,000 Operating expenses55,000 For 2010 Majaan would report comprehensive income of... 4. Net income minus preferred dividends divided by the weighted average of shares outstanding..... 5. Reem.'s trial balance reflected the following account balances at December 31, 2020:

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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The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 55 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 $3,112,575 $2,638,225 Net income 700,800 540,300 Dividends: On preferred stock (11,200) (11,200) On common stock (54,750) (54,750) Retained earnings, December 31 $3,747,425 $3,112,575 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1   20Y2   20Y1 Sales $3,863,160 $3,559,340 Cost of merchandise sold 1,516,210 1,394,910 Gross profit $2,346,950 $2,164,430 Selling expenses $731,580 $918,970 Administrative expenses 623,190 539,710 Total operating expenses $1,354,770 $1,458,680 Income from operations $992,180 $705,750 Other revenue and expense:…
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $82.60 on December 31, 20Y2. Marshall Inc.Comparative Retained Earnings StatementFor the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Retained earnings, January 1 $3,704,000 $3,264,000 Net income 600,000 550,000 Dividends:     On preferred stock (10,000) (10,000)     On common stock (100,000) (100,000) Retained earnings, December 31 $4,194,000 $3,704,000 Marshall Inc.Comparative Income StatementFor the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $10,850,000 $10,000,000 Cost of merchandise sold 6,000,000 5,450,000 Gross profit $4,850,000 $4,550,000 Selling expenses $2,170,000 $2,000,000 Administrative expenses 1,627,500 1,500,000 Total operating expenses $3,797,500 $3,500,000 Income from operations $1,052,500 $1,050,000 Other revenue and expense:     Other revenue…
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 55 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 $3,112,575 $2,638,225 Net income 700,800 540,300 Dividends: On preferred stock (11,200) (11,200) On common stock (54,750) (54,750) Retained earnings, December 31 $3,747,425 $3,112,575 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1   20Y2   20Y1 Sales $3,863,160 $3,559,340 Cost of merchandise sold 1,516,210 1,394,910 Gross profit $2,346,950 $2,164,430 Selling expenses $731,580 $918,970 Administrative expenses 623,190 539,710 Total operating expenses $1,354,770 $1,458,680 Income from operations $992,180 $705,750 Other revenue and expense:…
Questions: 1. Price-earnings ratio 2. Dividend payout ratio 3. Dividend yield ratio
Below is the financial data for Arla Inc. for the year ended December 31, 2020: Market price per share... Net Income...... $150.00 $1,750,000 Preferred Dividends declared... $75,000 Average # of common shares....... Dividends per share...... Average common shareholders' equity..... Total assets..... Total Liabilities... Accumulated Other Comprehensive Income..... 100,000 $2.50 10,000,000 $22,500,000 $11,675,000 $185,000 Instructions Calculate the Return on shareholders' equity (use up to 2 decimal places and do not include a % sign)
The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was $ 55 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 $3,112,575 $2,638,225 Net income 700,800 540,300 Dividends: On preferred stock (11,200) (11,200) On common stock (54,750) (54,750) Retained earnings, December 31 $3,747,425 $3,112,575 Marshall Inc. Comparative Income Statement For the Years Ended December 31, 20Y2 and 20Y1 20Y2 20Y1 Sales $3,863,160 $3,559,340 Cost of merchandise sold 1,516,210 1,394,910 Gross profit $2,346,950 $2,164,430 Selling expenses $731,580 $918,970 Administrative expenses 623,190 539,710 Total operating expenses $1,354,770 $1,458,680 Income from operations $992,180 $705,750 Other revenue and expense:…
The ledger of DIVA Co. shows the follow data: Retained Earnings Date Particulars Debit Credit 01/01/2012 Balance 40,300 06/30/2012 Dividends paid 12,500 12/31/2012 Net income for 2012 21,250 02/07/2013 Premium on share capital 5,000 04/30/2013 Loss on sale of land 2,500 09/30/2013 Dividends paid 10,000 12/31/2013 Net income for 2013 2,900 12/31/2013 Revaluation surplus 20,000 07/01/2014 Gain on sale of treasury stock 800 12/31/2014 Net income 2014 16,850 Unrealized loss on FVOCI securities 1,700 Compute for the correct balance of Retained Earnings on December 31, 2014.
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The following information pertains to Marsh Company. Assume that all balance sheet amounts represent average balance figures Total asset $400.000 Stockholders' equity-common 200,000 Total stockholders' equity 280,000 Sales 120,000 Net income 30,000 Number of shares of common stock 8,000 Common dividends 6,000 Preferred dividends 4,000 What is Marsh's return on common stockholders' equity? a. 15% b. 13.0% c. 10.0% d. 9.3%
The 2020 income statement of Wasmeier Corporation showed net income of $480,000 and a loss from discontinued operations of $120,000. Wasmeier had 100,000 shares of common stock outstanding all year. Prepare Wasmeier's income statement presentation of earnings per share.
Wildcat Corporation recently disclosed the following financial information: Earnings $1,188,770 Assets $6,900,000 Liabilities $1,184,277 Shares outstanding 345,863 Market price $27.00 per share Based on current information, calculate the price-to-book ratio.