Assume dividends of $10,800 were paid and no additional stock was issued during the year. Revenues were $110,000. Compute (a) net income, and (b) expenses. Assume additional stock was issued for $4,800 and no dividends were paid during the year. Expenses were $42,000. Compute (a) net income, and (b) revenues.

Assume dividends of $10,800 were paid and no additional stock was issued during the year. Revenues were $110,000. Compute (a) net income, and (b) expenses. Assume additional stock was issued for $4,800 and no dividends were paid during the year. Expenses were $42,000. Compute (a) net income, and (b) revenues.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Accounting
dont give answer in image format
a) The equity accounts of Mandevilla Bhd. on January 1, 2021, were as follows. RM Share Capital-Preference (9%, RM50 par, cumulative, 10,000 shares authorized) Share Capital Ordinary (RM1 stated value, 2,000,000 shares authorized) 1,000,000 Share Premium Preference Share PremiumOrdinary Retained Earnings Treasury Shares Ordinary (20,000 shares) 400,000 100,000 1,450,000 1,816,00 50,000 During 2021, the corporation had the following transactions and events pertaining to its equity. Feb 1 The company issued 30,000 ordinary shares for RM120,000. Apr 14 The company sold 9,000 treasury shares-ordinary for RM42,000. Sept 3 The company issued 7,000 ordinary shares for a patent valued at RM32,000.
Below are incomplete financial statements for Bulldog, Inc.Required: Calculate the missing amounts.
Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year-end: Accounts Receivable $23,000 Retained Earnings ? Accounts Payable 00 Supplies Cash Common Stock 110,000 9,000 8,000 Equipment, net 154,000 a. Calculate the balance in Retained Earnings at year-end $ 0 b. If the amount of the retained earnings at the beginning of the year was $30,000 and $12,000 in dividends is paid during the year, calculate net income for the year. $42,000
31. Closed the credit balance of the income summary account, $269,400. 2. Journalize the entries to record the transactions, and post to the eight selected Treasury Stock; Stock Dividends Distributable; Stock Dividends; Cash Dividends. listed. Also prepare T accounts for the following: Paid-In Capital from Sale cf July 1. Declared a 4% stock dividend on common stock, to be capitalized at the 1. Enter the January 1 balances in T accounts for the stockholders' equity accounts FROBLEM 12-4B Btries for selected oporate transactions Objectives 4, 5, 7, 8 Shoshone Enterprises Inc. manufactures bathroom fixtures. The stockholders' equity accounts of Shoshone Enterprises Inc., with balances on January 1, 2006, are as follows: Common Stock, $20 stated value (100,000 shares authorized, 75,000 shares issued) Paid-In Capital in Excess of Stated Value Retained Earnings.. Treasury Stock (5,000 shares, at cost) $1,500,000 180,000 725,000 140,000 ADNET ASS The following selected transactions occurred…
please help me to answer this
Please do not give solution in image format ?
Markus Company’s common stock sold for $1.75 per share at the end of this year. The company paid a common stock dividend of $0.42 per share this year. It also provided the following data excerpts from this year’s financial statements: Ending Balance Beginning Balance Cash $ 27,000 $ 43,800 Accounts receivable $ 48,000 $ 41,300 Inventory $ 45,100 $ 48,000 Current assets $ 120,100 $ 133,100 Total assets $ 312,000 $ 263,800 Current liabilities $ 49,500 $ 34,500 Total liabilities $ 82,000 $ 73,800 Common stock, $1 par value $ 105,000 $ 105,000 Total stockholders’ equity $ 230,000 $ 190,000 Total liabilities and stockholders’ equity $ 312,000 $ 263,800 This Year Sales (all on account) $ 580,000 Cost of goods sold $ 336,400 Gross margin $ 243,600 Net operating income $ 49,500 Interest expense $ 3,000 Net income $ 32,550 3. What are the dividend payout ratio and the dividend yield ratio?
Please dont provide solution image based thanx
ine following intormation pertains tO Alpha Computing at the ena of 2021: Assets $957,500 $452,500 $270,000 $330,000 Liabilities Net Income Common Stock Alpha Computing's Retained Earnings account had a zero balance at the beginning of 2021. What amount of dividends did the company declare 2021? Multiple Choice $96,000 $97,000 $98,000 $95.000
Weat. Sub: accounting