At January 1, 2014, King Corporation's assets totaled $76,000, and its liabilities amounted to $42,000. Net income for 2014 was $17,000, and dividends amounted to $13,000. The amount of stockholders' equity at December 31, 2014 is: a. $38,000. b. $51,000. c. $80,000. d. $93,000.

At January 1, 2014, King Corporation's assets totaled $76,000, and its liabilities amounted to $42,000. Net income for 2014 was $17,000, and dividends amounted to $13,000. The amount of stockholders' equity at December 31, 2014 is: a. $38,000. b. $51,000. c. $80,000. d. $93,000.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

See similar textbooks

Related questions

Q: I won't to this question answer financial accounting

A: Step 1: Define Contribution Margin RatioThe contribution margin ratio represents the percentage of…

Q: Don't use ai please give me answer general accounting question

A: Step 1: Definition of Typical Accounts Receivable PeriodThe typical accounts receivable period is…

Q: The balance in the office supplies account on June 1 was $5,200, supplies purchased during June were…

A: To determine the amount to be used for the adjusting entry, follow these steps: Determine the total…

Q: I need answers financial accounting

A: Explanation: In the given question, we are required to calculate the future value from the given…

Q: Find interest rates earned on this financial accounting question

A: Step 1:Since time is 1 year and no compounding interest information is given,so, we can use the…

Q: Don't use ai please given answer accounting questions

A: Step 1: Definition of Absorption CostingAbsorption Costing is a costing method in which all…

Q: Financial accounting questions

A: Step 1: Define Accounts receivable turnoverThe ability of a company to recover its outstanding…

Q: Please provide correct solution for this accounting question

A: Step 1: Define GoodwillGoodwill is an intangible asset recorded when a company acquires another…

Q: Thomspson company sold manufacturing equipment solve this accounting questions

A: To determine the amount and character of Thompson Company's gain or loss, follow these steps: Step…

Q: In the variable costing period's income statement, where should the period's fixed costs be…

A: In variable costing, fixed costs are treated as period costs and are expensed in the period…

Q: A business has $210,000 total liabilities. At start-up, the owners invested $500,000 in the…

A: We can calculate the total assets using the basic accounting equation:Assets = Liabilities + Equity…

Q: Don't use ai please given answer accounting questions

A: Hello student! Profit (or Gross Profit) is the amount of revenue after deducting the cost of the…

Q: Hi tutor give correct solutions.

A: Step 1: Organize the DataWe need to calculate the total value for each product using the lower of…

Q: Please provide this question solution general accounting

A: To compute the accrued interest payable on April 30, 2023, for the 120-day, 8% note payable Step 1:…

Q: The welding department had beginning work in process of 20,000 units, ending work in process of…

A: Concept of Beginning Work in Process (WIP):Beginning Work in Process refers to the partially…

Q: how much is the gross profit margin

A: Step 1: Definition of Gross Profit MarginGross profit margin is a profitability ratio that shows the…

Q: Please provide this question solution

A: Step 1: Given Value for Calculation Rate of Return on Investment = roi = 28%Investment Turnover = it…

Q: General accounting

A: Step 1: Define Difference between Actual and Budgeted CostThe total difference between a company's…

Q: Orange corp has variable costs solve this general accounting question

A: Step 1: Definition of Required Sales to Achieve a Target Net IncomeRequired Sales: This is the sales…

Q: I won't this question answer financial accounting

A: Step 1: Introduction to income statementIncome statement is referred to as the financial statement…

Q: Provide correct answer general accounting

A: Step 1: Define Taxable IncomeUnless the law explicitly permits a specific legal exception, a…

Q: General Accounting

A: Step 1: Define Interest EarnedThe return that a lender gets on the amount lent to the borrower is…

Q: Solve it

A: To determine the unit product cost under variable costing, only the variable manufacturing costs are…

Q: Do fast answer of this accounting questions

A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a measure of financial…

Q: Financial Accounting Question

A: The question requires the determination of the holding period return. Holding period return is the…

Q: Kindly help me with accounting questions

A: Step 1: Definition of Free Cash Flow (FCF)Free Cash Flow (FCF) measures the cash a company generates…

Q: I need correct answer general accounting

A: To solve these problems, we need to follow these steps: A. Calculate Net Income for 2014 Net income…

Q: I want to correct answer general accounting

A: Step 1: Define Variable CostingIt is a costing concept used in managerial accounting for calculating…

Q: I won't to this question answer general Accounting

A: Approach to solving the question: Step 1: Calculate Required Reserves:Required Reserve Ratio =…

Q: Hi expert please give me answer general accounting

A: Step 1: Define Sales RevenueIn business and finance, the amount of sales revenue is a significant…

Q: Do fast answer of this accounting questions

A: To determine the selling price for Kasaya to make a profit of $120, we need to add the desired…

Q: None

A: Step 1: Define Tax LiabilityA company's tax liability is the amount due to the Internal Revenue…

Q: Need Answer for the Question

A: Return on Investment = Net Income/Average Total Assets Return on Investment = 16,700/115,200 Return…

Q: Please provide this question solution general accounting

A: Step 1: Definition of Unit Product Cost under Variable CostingUnit Product Cost under Variable…

Q: Please given correct answer general accounting

A: Step 1: Define Net IncomeThe net income is a measure of the profitability of an enterprise. It is…

Q: Financial Accounting Question please answer the question

A: Step 1: Given Value for Calculation Current Price of Stock of Microsoft = pm = $420.30Earning Per…

Q: Tina Company uses the following formula for annual overhead: $360,000 + $1.20 for each machine hour…

A: To calculate Tina Company's budgeted overhead for the month, use the provided formula and details:…

Q: Please given answer general Accounting

A: To determine how much money to deposit today to have $125,000 in five years at an annual interest…

Q: Please solve this general accounting question

A: Step 1: Define Capital BalanceThe capital balance in a proprietorship represents the owner's equity,…

Q: Hi expert please give me answer general accounting

A: Step 1: Definition of Gain or Loss on Sale of EquipmentThe gain or loss on the sale of equipment is…

Q: Thech pro uses the straight line method solve this accounting questions

A: Straight-Line Depreciation MethodThe straight-line method evenly allocates the cost of an asset…

Q: Provide answer

A: The lower-of-cost-or-market (LCM) method is an accounting principle used to value inventory. It…

Q: general acounting

A: Step 1: Definition of Operating Profit (or Loss)Operating Profit: This is the income earned after…

Q: posting in general account subject questions.

A: Step 1: Compute the Net Realizable Value (NRV)The formula for NRV is:NRV=Estimated Selling…

Q: How does dimensional complexity affect account structures? (a) Simple structures work universally…

A: Dimensional complexity in account structures refers to the need to accommodate various business…

Q: 6 When should alternative measurement bases supplement cost? a. Historical cost tells whole story b.…

A: Explanation of Historical Cost: This refers to the original purchase price or cost of acquiring an…

Q: I want to correct answer general accounting

A: To calculate the magnitude of operating leverage (MOL), use the following formula: MOL =…

Q: Hii expert please given correct answer general Accounting

A: Step 1: Define Debt RatioA firm's debt ratio represents the proportion of debt capital over the…

Q: Please given correct answer general accounting

A: Step 1: Define Markup and PriceIn the context of finance, the selling price of a product takes into…

Q: Need Help Please Solve this one

A: Step 1: Definition of Capital GainA capital gain occurs when an asset is sold for more than its…

Question

Provide correct answer general Accounting

At January 1, 2014, King Corporation's assets
totaled $76,000, and its liabilities amounted to $42,000.
Net income for 2014 was $17,000, and dividends
amounted to $13,000. The amount of stockholders' equity
at December 31, 2014 is:
a. $38,000.
b. $51,000.
c. $80,000.
d. $93,000.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Required: 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)
At December 31, Pitt Inc. has assets of $12,900 and liabilities of $6,300. What is the stock-holders equity for Pitt at December 31? 6,600 6,300 18,100 19,200
Given the following year-end information for Somerset Corporation, compute its basic earnings per share. Net income, 13,000 Preferred dividends declared, 4,000 Weighted average common shares for the year, 4,500
Belton, Inc. had the following transactions in 2018, its first year of operations: Issued 37,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $21.00 per share. Earned net income of $72,000. Paid no dividends. At the end of 2018, what is the total amount of paid-in capital? A. $777,000 B. $37,000 C. $849,000 D. $72,000
Phelps, Inc. had assets of $84,556, liabilities of $18,556, and 12,778 shares of outstanding common stock at December 31, 2017. Net income for 2017 was $9,456. The company had assets of $99,361, liabilities of $22,261, 11,401 shares of outstanding common stock, and its stock was trading at a price of $10 per share at December 31, 2018. Net income for 2018 was $10,598. Required: a. Calculate EPS for 2018. b. Calculate ROE for 2018. c. Calculate the Price/Earnings Ratio for 2018. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate EPS for 2018. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) EPS
A firm has the following accounts and financial data for 2014: Sales: $3060 - Accounts Receivable: $500 Interest Expense: $126 - Total Operating Expense: $600 - Accounts Payable: $240 - Cost of Goods Sold: $1800 Preferred Stock Dividends: $18 - Tax Rate: 40% - Number.of shares of common stock: 1,000. The firm's earnings available to common shareholders for 2014 is O a. $195.40 O b. $302.40 O c. -$224.25 O d. $516.60
Financial accounting
Selected financial information for CraneCorporation as of December are presented below. 2014 2013 Current assets $104,640 $80,080 Current liabilities 43,680 36,400 Stockholders’ equity 124,800 110,240 Total assets 312,000 280,800 Net sales and net income for 2014 were $468,000 and $37,440 respectively. Dividends of $4,160 were declared for common stockholders and $6,240for preferred shareholders in 2014. Preferred stockholders' equity is equal to 10% of total stockholders' equity.Compute the indicated ratios at December 31, 2014, or for the year ended December 31, 2014, as appropriate. (Round answers to 2 decimal places, e.g. 2.12.) 1. Return on assets enter percentages rounded to 2 demical places % 2. Profit margin enter percentages rounded to 2 demical places % 3. Payout ratio enter percentages rounded to 2 demical places % 4. Debt assets ratio enter percentages…
Suppose the following financial information is available for Walgreen Company. (in millions) 2017 2016 Average common stockholders' equity $12,990.0 $11,690.0 Dividends declared for common stockholders 545 390 Dividends declared for preferred stockholders Net income 1,895 2,195 Calculate the payout ratio and return on common stockholders' equity for 2017 and 2016. (Round answers to 1 decimal place, e.g. 12.5%.) 2017 2016 Payout ratio
Sealy Corporation had the following information in its financial statements for the years ended 2014 and 2015: Cash dividends for the year 2015 $ 5,000 Net income for the year ended 2015 87,000 Market price of stock, 12/31/14 10 Market price of stock, 12/31/15 12 Common stockholders’ equity, 12/31/14 1,000,000 Common stockholders’ equity, 12/31/15 1,200,000 Outstanding shares, 12/31/15 100,000 Preferred dividends for the year ended 2015 15,000 What is the rate of return on common stock equity for Sealy Corporation for the year ended 2015? a. 7.9% b. 6.4% c. 7.0% d. 6.5%
Bonita Corporation had net income of $1,950,000 and paid dividends to common stockholders of $323,700 in 2017. The weighted average number of shares outstanding in 2017 was 500,000 shares. Bonita Corporation's common stock is selling for $45 per share on the NASDAQ. Bonita Corporation's payout ratio for 2017 is? A. $3.9 per share. B. 13.6%. C. 16.6%. D. 9.7%.