Current Attempt in ProgressPharoah Company recorded journal entries for the issuance of common stock for $206000, the payment of $66000 on accountspayable, and the payment of salaries expense of $103500. What net effect do these entries have on stockholders' equity?increase of $36500O increase of $140000

STATEMENT OF SHAREHOLDERS EQUITYStatement of Shareholders Equity is also Known as Changes in…

Answered: Current Attempt in Progress Pharoah…

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter13: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 22E

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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 income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.
Ratio of liabilities to stockholders equity and times interest earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: The income before income tax expense was 480,000 and 420,000 for the current and previous years, respectively. A. Determine the ratio of liabilities to stockholders equity at the end of each year. Round to one decimal place. B. Determine the times interest earned ratio for both years. Round to one decimal place. C. What conclusions can be drawn from these data as to the companys ability to meet its currently maturing debts?
Comprehensive: Income Statement and Supporting Schedules The following s a partial list of the account balances, after adjustments, of Silvoso Company on December 31, 2019: The following information is also available: 1. The company declared and paid a 0.60 per share cash dividend on its common stock. The stock was outstanding the entire year. 2. A physical count determined that the December 31, 2019, ending inventory is 34,100. 3. A tornado destroyed a warehouse, resulting in a pretax loss of 12,000. The last tornado in this area had occurred 10 years earlier. 4. On May 1, 2019, the company sold an unprofitable division (R). From January through April, Division R (a major component of the company) had incurred a pretax operating loss of 8,700. Division R was sold at a pretax gain of 10,000. 5. The company is subject to a 30% income tax rate. Its income tax expense for 2019 totals 4,230. The breakdown is as follows: 6. The company had average shareholders equity of 150,000 during 2019. Required: 1. As supporting documents for Requirement 2, prepare separate supporting schedules for cost of goods sold, selling expenses, general and administrative expenses, and depreciation expense. 2. Prepare a 2019 multiple-step income statement for Silvoso. Include any related note to the financial statements. 3. Prepare a 2019 retained earnings statement. 4. Next Level What was Silvosos return on common equity for 2019? What is your evaluation of Silvosos return on common equity if last year it was 10%?
Ivanhoe Company recorded journal entries for the issuance of common stock for $205000, the payment of $63000 on accounts payable, and the payment of salaries expense of $109500. What net effect do these entries have on stockholders' equity? O increase of $205000 O increase of $32500 increase of $142000 O increase of $95500
Calculating the Average Common Stockholders’ Equity andthe Return on Stockholders’ EquityRefer to the information for Somerville Company on the previous pages.Required:Note: Round answers to four decimal places.1. Calculate the average common stockholders’ equity.2. Calculate the return on stockholders’ equity
Please look at the attached images to assist in journaling the Retained Earnings and net income
Answer the question
Question: Based on the Adjusted Trial Balance and Additional Info shown below, what is the ending balance as of 12/31 for the Retained Earnings column as shown on the Statement of Stockholders' Equity you prepared on your scratch paper? Adjusted Trial Balance As of 12/31/20OXX Account Balance Accounts Cash $25,126 Accounts Receivable 24,500 Allowance for Uncollectible 3,504 Accounts Inventory Accounts Payable 35,000 10,144 Common Stock 40,198 Retained Earnings Dividends 15,172 5,000 Revenue 75,000 Sales Discounts 1,500 40,000 5,000 Cost of Goods Sold Salaries Expense Interest Expense 4,000 Income Tax Expense 3.000 Question:Based on the Adiusted Trial Balance and Additional Info shown helow what is ch ASUS f3 f4 f5 f6 f9 f10 f11 f7 f8 ロ/東因
Pls help me be clear and make the tables if it is debit or credit also
Instructions: a. Journalize the transactions and the closing entry for net income. b. Prepare stockholders’ equity section on December 31, 2021.
Prepare the journal entry. Post to the T account .

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