Duting the corentyeat, theनिल्पणा मा$60,000tatalassetscorpotation decieasedandby$300,000 he company isspedandtotalliabilitieselecreased$1000,000for newstockitsnetlossfortheyearwas$250,00aother changesNoStock holde ys earvity occurredyear. Deteimineamaunt of dividentsthe companyyeal.toduring thethealeclare d byduring thedollay

Dividend is kind of reward or return which is provided by the companies to their shareholders as per…

Duting the cortent yeaty the assets corpotation decieased and tatal of Mifflinburg by $6000o elecrealed $300,000 The company issped and year No o ther changes to Stock holde is earuity occurred total liabilities $1000,000 for new stock net loss for the was$250,00d during the year.Determine amount ofdividents the dollar the alecloted by during the yeal. company

Duting the cortent yeaty the assets corpotation decieased and tatal of Mifflinburg by $6000o elecrealed $300,000 The company issped and year No o ther changes to Stock holde is earuity occurred total liabilities $1000,000 for new stock net loss for the was$250,00d during the year.Determine amount ofdividents the dollar the alecloted by during the yeal. company

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. The following information was taken from the accounts of JT Corp at year end:Total income since incorporation P900,000Total cash dividends paid P260,000Proceeds from sale of donated shares P 90,000Total value of share dividends distributed P60,000Excess of proceeds over cost of treasury stocks sold P140,000What should be the current balance of retained earnings? a. P780,000b. P520,000c. P720,000d. P580,0002. see imagechoices: a. 176,000b. 263,000c. 204,000d. 321,000
earnings. Cash Accounts Receivable (net) Inventory Investments Net income Increase (Decrease) $69,570 53,800 $ 130,500 (47,390) Accounts Payable Bonds Payable Common Stock Paid-In Capital in Excess of Par-Common Stock Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $26,900 which was paid in the current year. Increase (Decrease) $(51,240) 83,080 131,900 15,920
Prior Year Current Year Accounts payable 3,153.00 5,915.00 Accounts receivable 6,935.00 9,046.00 Accruals 5,794.00 6,085.00 Additional paid in capital 19,655.00 13,876.00 Cash. ??? ??? Common Stock 2,850 2,850 COGS 22,169.00 18,794.00 Current portion long-term debt 500 500 Depreciation expense 1,016.00 1,037.00 Interest expense 1,276.00 1,138.00 Inventories 3,041.00 6,672.00 Long-term debt 16,904.00 22,546.00 Net fixed assets 75,987.00 73,861.00 Notes payable 4,002.00 6,534.00 Operating expenses (excl. depr.) 19,950 20,000 Retained earnings 35,536.00 34,724.00 Sales 46,360 45,799.00 Taxes 350 920 Category ww What is the firm's total change in cash from the prior year to the current year?
Determining Retained Earnings and Net Income The following information appears in the records of Bock Corporation at year-end: Accounts Receivable $23,000 Retained Earnings ? Accounts Payable 00 Supplies Cash Common Stock 110,000 9,000 8,000 Equipment, net 154,000 a. Calculate the balance in Retained Earnings at year-end $ 0 b. If the amount of the retained earnings at the beginning of the year was $30,000 and $12,000 in dividends is paid during the year, calculate net income for the year. $42,000
"Page 1 6 Record the necessary journal entry for the issuance of common stock. General Journal DR CR 7 Record the repurchase of common stock. General Journal DR CR 8 Record $50,000 in cash dividends declared. General Journal DR CR 9 Record the $50,000 cash dividends that have now been paid. General Journal DR CR 10 Assume and record a property dividend of inventory valued at $75,000 declared and paid. General Journal DR CR 11 Assume a common stock dividend declared of 19% of shares outstanding. Market at $12 per share. General Journal DR CR 12 Assume a common stock dividend declared of 35% of shares outstanding. General Journal DR CR
Given the information below, calculate the Working Capital and Current Ratio 1 Cash and marketable securities - $3,500,000 2 Accounts Receivable (Gross) - $2,000,000 Allowance for doubtful accounts 2.5% 3 Accounts Payable - $2,500,000 4 Accumulated Depreciation 2,500,000 6 Inventory - $3,500,000 7 Other Current Assets - $1,000,000 8 Common Stock at Par Value - $100,000 9 Current portion of long term notes - $1,000,000 10 Other Current Liabilities - $1,950,000 11 Goodwill - $10,000,000 12 Long-Term debt - $10,000,000
pp. Subject :- Accounting
Cash GRS Ltd. Statement of Financial Position As at December 31, 2023 Accounts receivable Inventory Property, plant, and equipment (net) Land Accounts payable Common shares Retained earnings $673,400 543,900 2,408,700 2,050,000 2,456,000 $8,132,000 $259,000 2,524,000 5,349,000 $8,132,000 From GRS's income statement, cost of goods sold for 2023 was $1,825,000. Accounts payable on December 31, 2022 was $151,000. Calculate the current ratio, acid-test ratio, and days payables outstanding. (Round current ratio and acid-test ratio to 2 decimal places, e.g. 7.25. Round days payable outstanding to 0 decimal places, e.g. 53. Use 365 days for calculation.)
Vipul b
What is the cash balance on December 31?
6. An entity provided the fo:louingdata for the year ended December 31. 2019:Retained earnings unappropriated. Januar> Overdepreciation of20i 8 due to prior period error. net oftax 400.000Net incomeRetained earning; appropriated for treasury (original balance is 3,000,000but reduced S) P200,000 by reason of reissuance of the treasury Shares)Retained earnings eppropria:ed for contingencies (begirråpg balance P70C,OOO. 300,000but increased by current appropriation ofP 100,000) 800,000Cash dividends paid to shareholders 1000.000Change in accounting policy from FIFO to a average — credit, net OftaxWhat is the balance of unappropriated retained earnings on December 31, 2019? 4,500.000 300.000b. 4,800,000
Presente bon are changes in all the account balances of Fritz Mayhew Furmiture Co. during the current year, except for retained earnings. Increase (Decrease) $(51,000) 82,000 125,000 Increase (Decrease) Cash $79,000 Accounts Payable Accounts Receivabie (net) 45,000 Bonds Payable Inventory 127,000 Commen Stock Investments (47,000) Paid-in Capital in Excess of Par-Common Stock 13,000 Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $19,000 which was paid in the current year. Net income