Charlie's Chocolates' owner made investments of $52,000 and withdrawals of $21,000. The company has revenues of $85,000 and expenses of $65,000. Calculate its net income. Multiple Choice $85,000. $51,000. $20,000. $31,000.

Charlie's Chocolates' owner made investments of $52,000 and withdrawals of $21,000. The company has revenues of $85,000 and expenses of $65,000. Calculate its net income. Multiple Choice $85,000. $51,000. $20,000. $31,000.

Name: Charlie's Chocolates' owner made investments of $52,000 and withdrawa
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Charlie's Chocolates' owner made investments of $52,000 and withdrawals of $21,000. The company has revenues of $85,000 and expenses of$65,000. Calculate its net Income.Multiple ChoiceO$85,000.$51,000.$20,000.$31,000.$65,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Sam's Restaurant has sales of $4,500, total debt of $1,300, total equity of $2,400, and a profit margin of 5%. What is the return on assets?
You are given the following information for Troiano Pizza Company: sales = $84,700; costs = $58,900; addition to retained earnings = $8,100; dividends paid = $3,500; interest expense = $3,210; tax rate = 23 percent. Calculate the depreciation expense for the company. Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
Axel bought $13, 539 worth of stock on margin. The initial margin was 75% and the maintenance margin was 22 %. Actual margin decreased to 16%. Axel deposited enough cash to raise the margin to 35 %. Rounded to the nearest penny, how much cash did Axel deposit? Correct Answer: 1, 177.84
For the year ended December 31, Year 1, Fields Company made cash payments of $53,200 for dividends, paid interest of $22,000, paid $31,200 cash to suppliers, and purchased equipment for $69,200 cash. What is the net cash used by investing activities for Year 1? Multiple Choice $175.600 $113.200 $69.200 $75.200
Barts Industries, Inc., has total assets as follows: $50,000 in cash, $15,000 in short- term investments, $120,000 in net current receivables, inventory of $25,000, equipment of $80,000, and $8,000 in prepaid expenses. The total long-term liabilities of the firm are $140,000 and total liabilities are $260,000. Based solely on the above information, Barts Industries' current ratio is (round to two decimal places): Answer:
Boe Company has owners’ equity of P400,000 and net income of P66,000. It has a payout ratio of 20% and a rate of return on assets of 15%. How much did Boe pay in cash dividends, and what were its average assets?
Company has the following information available net income 37500, cash provided by operation 46,500 cash says 97,500 capital expenditure 16,500 dividends paid 4500 what is free cash flow.
Vala
A company's total sales in a year were $2,710,000. The cost price of goods sold was $2,040,000. Given below are the overheads paid during the year. Item Wages Amount $198,500 Electricity and gas 15,300 Telephone 1,790 Rent of premises 41,090 Office expenses 17,030 At the end of the year, the company expanded by issuing new shares in the business. It planned to raise $2,450,000 through the issue of 70,00 shares. Calculate the price per share.
Pronghorn Co. invested $1,070,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 30% of net income in dividene each year. Use the information in the following T-account for the investment in Stellar to answer the following questions. Investment in Stellar Co. 1,070,000 99,000 (a) How much was Pronghorn Co.'s share of Stellar Co's net income for the year? Net income 29,700 Total net income (b) What was Stellar Co's total net income for the year? 428000 Total Dividends. $ 396000 (c) What was Stellar Co's total dividends for the year? 128400
Baghiben
Need help with this Question