At the beginning of the year, ABC Company's liabilities equal $75,000. During the year, assets increased by $80,000, and at the end of the year, assets equal $250,000. Liabilities decrease by $25,000 during the year. Calculate the amount of equity at the end of the year. A. $50,000 B. $95,000 C. $105,000 D. $170,000 E. $200,000

At the beginning of the year, ABC Company's liabilities equal $75,000. During the year, assets increased by $80,000, and at the end of the year, assets equal $250,000. Liabilities decrease by $25,000 during the year. Calculate the amount of equity at the end of the year. A. $50,000 B. $95,000 C. $105,000 D. $170,000 E. $200,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

See similar textbooks

Similar questions

The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?
At the beginning of the year, Norwood Pass Industries had $240,000 in total assets and a debt-to-assets ratio of 0.5 or 50%. During the year, Norwood's assets increased by $80,000, and its liabilities increased by $72,000. What is the debt-to-assets ratio at the end of the year? Multiple Choice 0.4 or 40% 0.6 or 60% 1.7 or 170% 0.9 or 90%
QUESTION: At the beginning of the year, Keller Company's liabilities equal $60,000. During the year, assets increase by $80,000, and at year-end assets equal $180,000. Liabilities decrease by $10,000 during the year. What are the beginning and ending amounts of equity?
The company had the following final balances after the Arst year af aperations: assets, $45,000, stockhalder equity, $25,000; dividends, $3,000; and net income, $10,000. What is the amount of the tompany liabilities? A $13,000. B $7,000. C $40,000. D $65,000.
11. At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% and owner's equity increased by the same percent, what is the amount of total liabilities at the end of the year? O A. P650,000 O B. P560,000 O C. P410,000 OD. P260,000
Motorola Credit Corporation's annual report: Net revenue (sales) Net earnings Total assets Total liabilities Total stockholders' equity a. Find the total debt to total assets ratio. Note: Round your answer to the nearest hundredth percent. Total debt to total assets Return on equity b. Find the return on equity ratio. Note: Round your answer to the nearest hundredth percent. (dollars in millions) $ 297 163 2,175 1,880 295 Asset turnover c. Find the asset turnover ratio. Note: Round your answer to the nearest cent. Profit margin % % % d. Find the profit margin ratio on net sales. Note: Round your answer to the nearest hundredth percent.
The balance sheet of ATLF, Inc. reports total assets of $1,950,000 and $2,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $150,000 and $1,000,000, respectively. What is ATLF's profit margin? Select one: a. 10% Ob. 8% O c. 7.5% O d. 15% e. 12%
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $36,000; Liabilities = ?; Common Stock = $6,600; Revenue = $14,200; Dividends = $1,550; Beginning Retained Earnings = $4,550; Ending Retained Earnings = $8,600.The amount of liabilities reported on the end-of-period balance sheet was: a. $29,400 b. $27,400 c. $24,850. d. $20,800.
The balance sheet of Mi-T-M reports total assets of $400,000 and $450,000 at the beginning and end of the year, respectively. The return on assets for the year is 10%. What is Mi-T-M's net income for the year? A. $42,500 B. $85,000 C. $45,000 D. $4,250,000
The company has current liabilities of $530,000, long-term liabilities of $1,000,000, total assets of $2,400,000, and stockholders' equity company's debt to total assets ratio is (give the answer in percent with % sign and round the answer to two decimal places). *
At the beginning of the year, Keller Company's liabilities equal $60,000. During the year, assets increase by $80,000, and at year-end assets equal $180,000. Liabilities decrease $10,000 during the year. What are the beginning and ending amounts of equity?
Motorola Credit Corporation's annual report: (dollars in millions) %24 Net revenue (sales) Net earnings 307 168 Total assets Total liabilities Total stockholders' equity 2, 225 1,915 310 a. Find the total debt to total assets ratio. (Round your answer to the nearest hundredth percent.) Total debt to total assets b. Find the return on equity ratio. (Round your answer to the nearest hundredth percent.) Return on equity c. Find the asset turnover ratio. (Round your answer to the nearest cent.) acer