:- At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,800 and liabilities of $5,100. During the year liabilities decreased by $1,500. Net income for the year was $2,600, and net assets at the end of the year were $10,200. There were no changes in paid-in capital during the year. Calculate the dividends, if any, declared during the year.

:- At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,800 and liabilities of $5,100. During the year liabilities decreased by $1,500. Net income for the year was $2,600, and net assets at the end of the year were $10,200. There were no changes in paid-in capital during the year. Calculate the dividends, if any, declared during the year.

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 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the beginning of the year, its retained earnings had a balance of 95,000. During the year, Vidalia paid 11,000 dividends to shareholders. Its contributed capital was 56,000 at the beginning of the year, and it did not issue any new stock during the year. Vidalias assets total 237,500 on December 31 of the current year. What are Vidalias total liabilities on December 31 of the current year?
At the beginning of its current fiscal year, Willie Corporation' s balance sheet showed assets of $11, 100 and liabilities of $ 5,200. During the year, liabilities decreased by $800. Net income for the year was $2, 600, and net assets at the end of the year were $6,400. There were no changes in paid - in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect.
At the beginning of its current fiscal year, Willie Corp's balance sheet showed assets of $14,600 and liabilities of $5,400. During the year, liabilities decreased by $1,000. Net income for the year was $3.100, and net assets at the end of the year were $9,900. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Stockholders' Equity Assets = Liabilities PIC RE Beginning: $ 14,600 $ 5,400 Changes: (1,000) + Ending:
At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $12,400 and liabilities of $6,400. During the year, liabilities decreased by $1,400. Net income for the year was $3,050, and net assets at the end of the year were $6,650. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Stockholders' Equity Assets Liabilities + PIC RE Beginning: Changes: $ 12,400 = $ (750) = 6,400 + (1,400) + $ 0+ $ 6,000 0+ Changes: Ending: $ 11,650 = $ 5,000 + 0+ EA $ 3,050 +Net income (2,400) Dividends 6,650
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $11,900 and liabilities of $5,600. During the year, liabilities decreased by $900. Net income for the year was $3,100, and net assets at the end of the year were $7,100. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year.
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $14,800 and liabilities of $5,100. During the year liabilities decreased by $1,500. Net income for the year was $2,600, and net assets at the end of the year were $10,200. There were no changes in paid-in capital during the Calculate the dividends, if any, declared during the year. year.
At the beginning of its current fiscal year, Willie Corporations balance sheet showed assets of $ 11, 100 and liabilities of $6,700. During the year, liabilities decreased by $700. Net income for the year was $2,700, and net assets at the end of the year were $4,700. There were no changes in paid - in capital during the year. Required:Calculate the dividends, if any, declared during the year. Indicate the financial statement effect.Note: Enter decreases with a minus sign to indicate a negative financial statement effect.\table[[, Assets, =, Liabilities,+, Stockholders' Equity], [, PIC,\table [[ + ], [ + ]], RE], [Beginning:,, 11, 100, , $, 6, 700, +, S, 0], [Changes: ,,,,, (700), +,, 0, +,], [Changes:], [Ending:,,, | =,,, | +,, 0, +,]] = Beginning: Changes: Changes: Ending: Assets = Liabilities + $ 11,100 = $ 6,700 + (700) + || 3 || Stockholders' Equity RE $ PIC 0 + 0 + 0 +
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A pro-forma balance sheet shows that the TOTAL ASSETS amounted to P3,125,900; Current Liabilities = P790,350; Non-current Liabilities = P150,000; Common Stock = P1,085,000. Retained earnings from the previous year amounted to P475,000. The Pro-forma income statement shows a net income amounting to P825,000. Dividend payout ratio = 19.5%. Compute for the EFN (external financing needed) or Extra Fund.
Create a Balance sheet for this information given: