6. Using the information in #5 above, what are the first two years of depreciation using doubledeclining depreciation?7. Write the entry if a company issues 50,000 shares of its $1 par value common stock for $45 pershare.

To calculate depreciation using the double declining balance method, you typically follow these…

Answered: 6. Using the information in #5 above,…

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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Bolton Corporation had additions to retained earnings for the year just ended of $248,000. The firm paid out $187,000 in cash dividends, and it has ending total equity of $4.92 million. The company currently has 150,000 shares of common stock outstanding. a. What are earnings per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What are dividends per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the book value per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) d. If the stock currently sells for $80 per share, what is the market-to-book ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) e. What is the price-earnings ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) f. If the…
Novak Corporation's net income for the current year was $622000, Depreciation recorded on plant assets was $58000 and amortization expense was $93000. Accounts receivable and inventories increased by $49000 and $20000, respectively. Supplies and accounts payable decreased by $2000 and $39000, respectively. The equipment account balance increased by $55,000 and a $500,000 convertible bond was retired through the issuance of common stock. How much cash was provided by operating activities? O $565000 $667000 O $585000 $879000
Dietrich Corp. disclosed the following information for 2021. The firm issued $65,000 new equity and $4,790 in dividends. The firm acquired $23,186 in new fixed assets and sold $17,600 of old fixed assets. Net working capital increased by $2,470 during the year. Dietrich Corp. had sales revenue of $264,596, cost of goods sold of $63,864, selling expenses of $53,200, depreciation of $6,780, and tax rate is 20%. a) What is the cash flow from assets of Dietrich Corp. in 2021? b) What is the cash flow to creditors of Dietrich Corp. in 2021? without excel
Pronghorn Co. invested $1,070,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 30% of net income in dividene each year. Use the information in the following T-account for the investment in Stellar to answer the following questions. Investment in Stellar Co. 1,070,000 99,000 (a) How much was Pronghorn Co.'s share of Stellar Co's net income for the year? Net income 29,700 Total net income (b) What was Stellar Co's total net income for the year? 428000 Total Dividends. $ 396000 (c) What was Stellar Co's total dividends for the year? 128400
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Dove, Inc., had additions to retained earnings for the year just ended of $635,000. The firm paid out $80,000 in cash dividends, and it has ending total equity of $7.30 million. a. If the company currently has 670,000 shares of common stock outstanding, what are earnings per share? Dividends per share? What is book value per share? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. If the stock currently sells for $30.00 per share, what is the market-to-book ratio? The price-earnings ratio? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) c. If total sales were $10.6 million, what is the price-sales ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. b. C. Earnings per share Dividends per share Book value per share Market-to-book ratio Price-earnings ratio Price-sales ratio times times times
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DEF Company is expected to have net income of $250,000 this year. The company traditionally pays out 40 percent of its net income as a dividend. DEF started the year with retained earnings of $490,500. What is their expected retained earnings at the end of the year?
Given the following information below, prepare a proper Statement of Changes in Equity (SCE) For Frank and Ernest Inc. for the year 2020. Capital stock (1,000,000 authorized, 100,000 outstanding) $1,400,000 Dividends paid $140,000. The change in dividends payable account is zero. Beginning Retained Earnings -$540,000 Prior period error that reduced earnings by 600,000 before tax is still not corrected for Ending Retained Earnings $835,000 Accumulated Other comprehensive income ending $400,000 Accumulated Other comprehensive income belonging to minority interest is $40,000 Of the Shareholders equity $100,000 belongs to the minority.
A company had sales of $600 and costs of $300. Depreciation was an additional $150, and interest paid was $30. Taxes were 40% of pretax income. Dividends were $30. Beginning net fixed assets were $500 and ending net fixed assets were $750. The company started the year with a net working capital of $510 and ended with $550. No shares of stock were issued that year A. Calculate net income (nearest dollar without dollar sign ($) or comma, e.g. 15000. Negative cash flow is -15000 B. Calculate operating cash flow (nearest dollar without dollar sign ($) or comma, e.g. 15000) Negative cash flow is -15000

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6. Using the information in #5 above, what are the first two years of depreciation using double declining depreciation? 7. Write the entry if a company issues 50,000 shares of its $1 par value common stock for $45 per share.