Charger,inc. Provided the following information please solve this question general Accounting Charger, Inc. provided the following information:Beginning of the Year End of the YearAssets560,000Retained Earnings 100,000Common Stock50,000630,000110,00050,000If Net Income for the year was $150,000, how much did the company pay individends?a. $150,000b. $10,000c. $140,000d. $0

Step 1: Define DividendsDividends are paid to the shareholders of the corporation as a return on…

Answered: Charger, Inc. provided the following…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 20E

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Hancock Company reported the following account balancesat December 31, 2027:Sales revenue $97,000Dividends. $11,000Supplies 13,000Accounts payable 41,000Patent $59,000Building Common stock.. $27,000Insurance expense .... $31,000Notes payable .. $39,000Income tax expense $42,000Cash . . $19,000Repair expense ?Copyright $20,000Equipment $14,000Utilities payable. $22,000Inventory $64,000Retained earnings. .. $87,000 (at Jan. 1, 2027)Interest revenue $55,000Cost of goods sold ..... .. $37,000Accumulated depreciation .... $23,000 $34,000Accounts receivable ? Trademark. ... $51,000Calculate the total intangible assets reported in HancockCompany's December 31, 2027 balance sheet. The following additional information is available:1) The note payable listed above was a 4- year bank loan taken out on September 1, 2024.2) The total P - P - E at Dec. 31, 2027 was equal to 75% of the total current liabilities at Dec. 31, 2027. ՄԴ S
[The following information applies to the questions displayed below.] Lydex Company's financial statements for the last two years are as follows:Lydex CompanyComparative Balance Sheet This YearLast YearAssets Current assets: Cash$ 860,000$ 1,100,000Marketable securities0300,000Accounts receivable, net2, 300, 0001,400,000 Inventory 3,500,0002, 000, 000Prepaid expenses 240, 000180,000 Total current assets6, 900, 0004, 980, 000 Plant and equipment, net9,320,0008, 950,000 Total assets$ 16,220,000$ 13,930,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities$ 3,910, 000$ 2,780,000 Note payable, 10 % 3,600,0003, 000, 000 Total liabilities 7, 510, 0005, 780,000 Stockholders' equity: Common stock, $75 par value 7, 500, 0007, 500,000 Retained earnings 1,210,000650,000 Total stockholders' equity8, 710, 0008, 150,000 Total liabilities and stockholders' equity$ 16, 220, 000$ 13,930,000Lydex CompanyComparative Income Statement and Reconciliation This YearLast YearSales (all on…
A company reports the following:Income before income tax $8,000,000Interest expense 500,000Determine the times interest earned ratio. Round to one decimal place.
Assume a company had net Income of $72,000 and provided the following excerpts from its balance sheet: This Year Last Year Current assets: $40,000 $53,000 $13,000 $46,000 $50,000 $11,000 Accounts receivable Inventory Prepaid expenses Current liabilities: $38,000 $18,000 $13,000 $44,000 $15,000 $10,000 Accounts payable Accrued liabilities Income taxes payable If the company did not sell any noncurrent assets during the period and the credits to its accumulated depreciation account were $21,000, then based solely on the informatlon provlded, the company's net cash provided by (used in) operating activities would be: Multiple Cholce $94,000. $52,000. $68,000. $92,000.
The following information is available from the annualreport of Frixell, Inc.: Currentliabilities . . . . $300,000Operatingincome . . . . . 240,000Net income . . . . 80,000 Currentassets . . . . $ 480,000Average totalassets . . . . 2,000,000Average totalequity . . . . 800,000Which of the following statements are correct? (More thanone statement may be correct.)a. The return on equity exceeds the return on assets.b. The current ratio is 0.625 to 1.
14
A company has the following data for a year: Revenue 250 MM Deprecation 20 MM Other Operating Costs 240 MM Financing Costs 0 Profits Tax 25% Dividends Distributed 25MM Q Before-Tax Profits/Loss, Tax, Change in Book Value equals, Net Change in Cash (on Balance Sheet),
T.
Cullumber company has these comparative balance sheet data:
Sanchez Company had the following year-end balances: Cash $325,000 Marketable Securities 175,000 Accounts Receivable, net 450,000 Inventory 225,000 Prepaid Expenses 110,000 Plant Assets, net 640,000 Accounts Payable 375,000 Long-term Notes Payable 365,000 Common Stock 645,000 Retained Earnings 540,000 Net income for the year was $305,000 a. Calculate the Current Ratio b. Calculate the Acid-Test Ratio c. Calculate the Debit to Equity Ratio d. Calculate the Debt Ratio
Selected information taken from the financial statements of Wiley Company for two successibe years follows. You are to compute the percentage change from year 1 to year 2 whenever possible. Round all calculations to the nearest whole percentage. Year 2 Year 1 a. Accounts Receivable $126,000 $160,000 b. Marketable Securities -0- 250,000 c. Retained Earnings 80,000 (80,000) d. Notes Recievable 120,000 -0- e. Notes Payable 890,000 800,000 f. Cash 84,000 80,000 e. Sales 970,000 910,000
Sun City Corporation's end-of-year balance sheet consisted of the following amounts: Cash Property, plant, and equipment Capital stock Retained earnings $ 25,000 70,000 100,000 Ob. $200,000 Oc. $165,000 Od. $100,000 7 Accounts receivable Long-term debt Accounts payable Inventory What amount should Sun City report on its balance sheet for total assets? Oa. $95,000 $70,000 40,000 20,000 35,000

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Charger, Inc. provided the following information: Beginning of the Year End of the Year Assets 560,000 Retained Earnings 100,000 Common Stock 50,000 630,000 110,000 50,000 If Net Income for the year was $150,000, how much did the company pay in dividends? a. $150,000 b. $10,000 c. $140,000 d. $0