Bramble Corp. started the year with total assets of $218,000 and total liabilities of $112,000. During the year, the business recorded $328,000 in revenues, $162,000 in expenses, and dividends of $52,000. What stockholders' equity at the end of the year?

Bramble Corp. started the year with total assets of $218,000 and total liabilities of $112,000. During the year, the business recorded $328,000 in revenues, $162,000 in expenses, and dividends of $52,000. What stockholders' equity at the end of 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...

See similar textbooks

Related questions

Q: Can you please solve this financial accounting question?

A: The net income for the period is calculated as follows: Formula table: Result of the above formula…

Q: ???

A: Concept of Total EarningsTotal earnings refer to the total amount of money generated from business…

Q: Question answer

A: To determine the stock price of Gnomes R Us, we used the given financial information, including the…

Q: The variable cost is $18 per unit for a product that sells for $25. For 2,500 units, what is the…

A: The contribution margin per unit is determined by subtracting the variable cost per unit from the…

Q: Compute total manufacturing costs

A: Explanation of Direct Labor:Direct labor refers to the wages and salaries paid to employees who are…

Q: Need help with this accounting questions

A: To determine the production cost per unit under variable costing, only variable costs (direct…

Q: What is the firm's price earnings ratio

A: Calculate Market Price per ShareMarket Price per Share = Book Value per Share * Price-Book…

Q: help me to solve this questions financial accounting

A: Step 1: Definition of Straight-Line DepreciationThe straight-line depreciation method allocates an…

Q: 4 PTS

A: The economic entity assumption is a fundamental principle in accounting that posits that a business…

Q: What is the days sales in accounts receivable?

A: Explanation of Net Credit Sales: Net credit sales represent the total amount of sales made on credit…

Q: Jiminy Cricket Co. has a five-day workweek (Monday through Friday). Employees earn $1,420 per day.…

A: Concept of Accrued WagesAccrued Wages refer to the wages employees have earned but have not yet been…

Q: Should the machine be replaced?

A: Calculate the net cost of the new machine:Cost of new machine: $85,000Trade-in value of old machine:…

Q: hi expert please help me financial accounting

A: Step 1: Definition of Cash Conversion Cycle (CCC)The cash conversion cycle (CCC) measures the time…

Q: Financial Accounting

A: Step 1: Definition of Interest Tax ShieldThe Interest Tax Shield represents the reduction in taxable…

Q: What is the opereting cash flow?

A: Earnings Before Taxes (EBT):EBT = Total Sales - Costs - Depreciation= $1,349,800 - $903,500 -…

Q: Provide answer

A: 1) We know: * Base salary = $1,950 per month * Commission rate = 6.8% = 0.068 * Total paycheck =…

Q: Financial Accounting

A: Step 1: Analyze each account given.The accounts relevant to the net income calculation are these…

Q: Under the simplified method

A: Explanation of Taxable Annuity Income:Taxable annuity income refers to the portion of annuity…

Q: financial accounting

A: Step 1: Calculation of Current AssetsNet Working Capital = Current Assets - Current…

Q: Option? ? General Accounting

A: 1. CAPITAL ASSET PRICING MODEL (CAPM)The CAPM is used to determine the theoretical required return…

Q: Quick answer of this accounting questions

A: Step 1: Definition of Variable Overhead Efficiency VarianceThe Variable Overhead Efficiency Variance…

Q: I need answer

A: Explanation of Plantwide Overhead Rate:The plantwide overhead rate is a single predetermined rate…

Q: Compute standard direct labor rate per hour

A: Explanation of Standard Direct Labor Rate: The standard direct labor rate is the total expected cost…

Q: General accounting

A: Step 1: Definition of Spending VarianceSpending variance is the difference between the actual cost…

Q: choose best answer me

A: Detailed explanation:Total Variable Costs, $80,000Total Fixed Costs, $120,000 Selling Price, $…

Q: 76 Financial Accounting

A: Concept of Issued SharesIssued shares refer to the total number of shares that a company has sold to…

Q: Please provide answer

A: Step-by-Step Solution to Determine the Note Payable Liability on December 31, 2022 We will solve…

Q: Can you help me with accounting questions

A: Step 1: Definition of Taxable Gain on Sale of HomeThe taxable gain on the sale of a home is the…

Q: Gnomes R Us just paid a dividend of $3.22 per share. The company has a dividend payout ratio of 64…

A: Step 1: Given Value for Calculation Current Dividend per share = d = $3.22Dividend Payout Ratio =…

Q: What was the amount of sales for the month?

A: Let S be the amount of sales. The equation becomes:4,470= 1,950 + 0.068 S Solving for…

Q: TICA Corporation had sales of $72 million this year. Its accounts receivable balance averaged $2.4…

A: To compute how long does it take the firm to collect on its sales, we'll use the Days Sales…

Q: none

A: Step 1: Given Value for Calculation Net Working Capital = nwc = $570Net Fixed Assets = nfa =…

Q: Solve this financial accounting problem

A: Explanation of Manufacturing Cycle Efficiency (MCE):Manufacturing Cycle Efficiency (MCE) is a…

Q: What is the amount of equity?

A: Equity = Assets - LiabilitiesPlugging in the given values: Equity = $420,000 - $120,000Equity =…

Q: Solve this MCQ

A: Explanation of Net Income:Net income is the total profit a company earns after subtracting all…

Q: Provide answer

A: The financial evaluation of Kragle Corporation's division was performed utilizing three principal…

Q: need help this questions

A: Step 1: Definition of Avoidable CostsAvoidable Costs are expenses that can be eliminated if a…

Q: 1: Armand Giroux (single; 0 federal withholding allowances) earned weekly gross pay of $1,500. For…

A: ExplanationArmand Giroux's and Eric Belanger's calculations match exactly. Peter Quigley's local…

Q: Express the answer with 3 decimal places

A: Step 1 The coefficient of variation (CV) is calculated using the formula: CV=μσ ←(1) where:σ is…

Q: If the current market price for selling a product at Andrew Materials is $15.50 per unit, and the…

A: The target cost is the maximum cost a company can afford to produce a product while still achieving…

Q: expert of general accounting answer

A: Step 1: Definition of Goodwill AccountingGoodwill is an intangible asset recorded when a company…

Q: Refer to the statement of comprehensive income for the year ended 31 December 2023, statement of…

A: 2.1 The efficiency of the company to collect its debts on timeFormula:Average Collection Period =…

Q: Given correct answer general Accounting

A: Step 1: IntroductionThe net realizable value (NRV) method allocates joint costs based on the…

Q: What is the total cost of the land on these financial accounting question?

A: Step 1: Define Total Cost of LandThe Total Cost of Land includes all expenditures necessary to…

Q: Sub. General accounting

A: Step 1: Define Operating ExpensesThe operating expenses are reduced from the net revenue to get…

Q: General accounting

A: To calculate the stockholders' equity at the end of the year, follow these steps: Step 1: Calculate…

Q: Accounting MCQ

A: Concept of Derecognition of ReceivablesDerecognition of receivables refers to the process of…

Q: Calculate each year's profit percentage? Accounting

A: Step 1: Definition of Gross Profit PercentageGross profit percentage, also known as gross margin…

Q: Please provide solution this financial accounting question

A: Step 1: Define Cash Coverage RatioThe Cash Coverage Ratio measures a company's ability to cover its…

Q: Do fast answer of this accounting questions

A: Step 1: Definition of Ending InventoryEnding inventory refers to the value of goods that remain…

Question

What was stockholders equity

Bramble Corp. started the year with total assets of
$218,000 and total liabilities of $112,000. During the year,
the business recorded $328,000 in revenues, $162,000 in
expenses, and dividends of $52,000. What
stockholders' equity at the end of the year?

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

Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
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.
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?
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)?
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?
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.)
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
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?
Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580, and income tax expense of $13,920. Hollys stockholders equity was $280,000 at the beginning of the year and $320,000 at the end of the year. The company has 20,000 shares of stock outstanding at the end of the year. Required Compute Hollys profit margin. What other information would you need in order to comment on whether this ratio is favorable?
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: Note: Round answers to two decimal places. 1. Calculate the times-interest-earned ratio. 2. Calculate the debt ratio. 3. Calculate the debt-to-equity ratio.