How much was the net income for the year? Beginning stockholders' equity was$120,000. Ending stockholders'equity was $195,000. Additionalissuances of capital stock during theyearamounted to $18,000.Dividends during the year amountedto $12,000.How much was the net income for theyear?

Step 1: Introduction to the Retained EarningsRetained earnings represent a company's accumulated net…

Answered: Beginning stockholders' equity was…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

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Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 21EB: Brunleigh Corporation earned net income of $200,000 this year. The company began the year with...

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Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
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.
Brunleigh Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is Brunleigh Corporations weighted average number of shares for the year?
Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?
Bastion Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the EPS for the year for Bastion?
James Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the EPS for the year for James (rounded to the nearest dollar)?
Jupiter Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is Jupiter Corporations weighted average number of shares for the year?
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 market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)
If Shareholders equity at the beginning of the year was $400,000 and $10,000 was paid to shareholders as dividends. What is the average Shareholders equity?
If retained earnings at the beginning of the period was $42 million and net income during the year was $12,543,000, how much was paid in dividends for the year? If the treasury stock was purchased at $20 per share, how many shares were purchased? How much was the dividend per share?
The average stockholder's equity for Stan Company was P 2M. Included in this figure is P 200,000 par value of 8% preferred stock which remained unchanged during the year. The return on common shareholder's equity was 12.5% during the year. How much was the net income for the year?
ABC Co. had the following account balances at the end of the year: $10,000 in Common Stock $50,000 in APIC $100,000 in Retained Earnings A net gain of $10,000 in accumulated other comprehensive income (AOCI) $20,000 in Treasury Stock Calculate total stockholders' equity.

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Beginning stockholders' equity was $120,000. Ending stockholders' equity was $195,000. Additional issuances of capital stock during the year amounted to $18,000. Dividends during the year amounted to $12,000. How much was the net income for the year?