Guo Company has an owner's equity of $397,600 and a net income of $136,608. It has a payout ratio of 21% and a return on assets of 16%. How much did Guo pay in cash dividends, and what was its average asset?

Guo Company has an owner's equity of $397,600 and a net income of $136,608. It has a payout ratio of 21% and a return on assets of 16%. How much did Guo pay in cash dividends, and what was its average asset?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 7P: Ace Industries has current assets equal to 3 million. The companys current ratio is 1.5, and its...

See similar textbooks

Related questions

Q: Stockholders equity was__. Accounting Problem 6.4

A: Explanation of Assets: Resources owned by a company that have economic value and can provide future…

Q: Solve these accounting question

A: Accounts Receivable Turnover = Net Sales / Average Accounts Receivable Average Accounts Receivable =…

Q: Want answer step by step

A: Explanation of Face Value:The face value of a bond, also known as its par value, is the amount the…

Q: Accounting Question

A: Step-by-Step Process:Calculate Current Total Cost per Unit:Total Cost for 35,000 units = $16,635,000…

Q: Provide this question solution general accounting

A: Step 1: a) The degree of operating leverage can be calculated by dividing the contribution margin by…

Q: Provide this question solution general accounting

A: Step 1: Define DepreciationGoods are produced in factories using machines and tools. The continuous…

Q: vnt

A: Key Calculations: 1. Annual Revenues: 9,100×44=400,4002. Selling Expenses:3. Cost to Manufacture:4.…

Q: Total cash? That should be in the register.

A: Detailed explanation: Cash Sales $ 3450 Less Cash…

Q: Provide this question solution general accounting

A: Step 1: Define GoodwillGoodwill represents an intangible asset that is reported on the balance sheet…

Q: None

A: Approach to solving the question: Analysis Detailed explanation:Accounts Receivable and Allowance…

Q: Par Industries owns 7,000,000 shares of Sub Corporation’s outstanding common stock (a 70 percent…

A: In this scenario, Par Industries owns 70% of Sub Corporation's outstanding common stock, which means…

Q: General Accounting

A: Step 1: Define Cost AllocationCost allocation is a technique used to assign a shared manufacturing…

Q: Pine Valley

A: Explanation of Unearned Revenue:Unearned revenue refers to the amount of money received by a…

Q: What is the sales volume variance for total revenue on these accounting question?

A: Step 1:The sales volume variance is calculated as follows: Sales volume variance = (Actual sales…

Q: General Accounting Question please answer do fast

A: Step 1: Define Itemized deductionItemized deduction is a kind of deduction provided by the…

Q: Accounting Question please answer fast and step by step calculation

A: The problem involves the determination of the future value of an annuity. Future value is the value…

Q: I need answer of this question accounting

A: Step 1: Define Gross MarginGross margin or gross profit is the difference between sales and direct…

Q: Hello tutor please provide answer accounting

A: Step 1: Define Standard CostingIn standard costing, various variances are computed and studied to…

Q: Accounting question

A: Step 1: Definition of Depreciation in Asset AccountingDepreciation is the systematic allocation of…

Q: Provide this question solution general accounting

A: Step 1: Define Return On AssetsReturn on assets is the return or income generated from the assets of…

Q: Required information Exercise 4-3 (Algo) Reconciliation of Absorption and Variable Costing Net…

A: Step 1: Before reconciliation of variable costing net operating income and absorption costing net…

Q: Raw Material Inventory $190,320 Work in Process Inventory 228,384 Finished Goods Inventory 342,576…

A: The total variance is the sum of the Material Price Variance, Material Quantity Variance, Labor Rate…

Q: 6 A company's actual manufacturing overhead was $170,000, and applied manufacturing overhead was…

A: Overapplied overhead = Applied manufacturing overhead - Actual manufacturing overheadOverapplied…

Q: Need help with this question solution general accounting

A: Step 1: Define Absorption CostingUnder absorption costing, the fixed manufacturing overhead cost is…

Q: General Accounting Question please answer

A: Step 1: Define Variable CostingMost managers utilize variable costing to account for revenue…

Q: Financial accounting q-29

A: Explanation of Segment Reporting: Segment reporting is a method of presenting financial information…

Q: (18) Data for a company are provided below: Direct Conversion Materials Cost per equivalent unit…

A: Step 1:First calculate the total cost of beginning WIP transferred out during the period: Total cost…

Q: Answer in step by step with explanation. Don't use Ai.

A: Hello student! To determine the budgeted cash collections and cash payments, we must focus on the…

Q: Sub: financial accounting 8.7. Need Answer

A: Step 1: Identify the annual payment amountStep 2: Use the provided PVA factor for the appropriate…

Q: LeBron James (LBJ) Corporation agrees on January 1, 2025, to lease equipment from Carla Vista, Inc.…

A: Based on the information provided, this lease does not transfer ownership, does not contain a…

Q: Account question please give me answer

A: Earning Per Share = Net Income/No. of shares outstanding Earning Per Share = 400,000/40,000 Earning…

Q: Need answer with this accounting question

A: Step 1: Define Fixed Manufacturing OverheadUnder absorption costing, we consider the fixed…

Q: [The following Information applies to the questions displayed below.] Felix & Company reports the…

A: Step 1: Highest point; Lowest point Take the highest level of activity (Period 10) and the lowest…

Q: Provide this question solution general accounting

A: Step 1: Cost reconciliation in the process costing is prepared to reconcile the Total cost to be…

Q: Please solve this accounting questions ⁉️

A: Step 1: Define Shareholders' EquityShareholders' equity is the owner's fund, which is invested by…

Q: The condensed income statement for ...accounting questions

A: Step 1: Define Static CostsStatic costs are the expenses that will remain as is even if there is a…

Q: Accounting

A: Step 1: Definition of Corporate TaxCorporate tax is a direct tax imposed on a corporation's net…

Q: Financial Accounting

A: Step 1: Define PurchasesInventory purchases refer to the procurement of raw materials by the company…

Q: Please give me answer Accounting

A: Step 1: Define Return On AssetsReturn on assets is a financial indicator of how much income the…

Q: Solve the problem step by step

A: Step 1:Total liability on 31 December will include borrowed amount and interest for two months (…

Q: Give true answer this general accounting

A: Step 1: Total Revenues Calculation• Total Revenues = Division A Revenues + Division B Revenues Step…

Q: Please need help answer this accounting question

A: Step 1: Define Direct MaterialDirect material cost refers to the raw material expenses which have…

Q: Question 5.4 accounting

A: Explanation of Beginning Supplies Inventory:Beginning supplies inventory represents the value of…

Q: Need Accurate answer

A: Explanation of Systematic Allocation Principle:The systematic allocation principle refers to the…

Q: Deemer Corporation has an activity-based costing system with three activity cost pools--Processing,…

A: Step 1: Allocate Costs to Activity Cost PoolsWe distribute the Equipment Expense and Indirect Labor…

Q: Need help with this accounting question

A: Step 1: Define AssetThe fixed assets are used by a company for a long period of time. The fixed…

Q: Need answer the general accounting question do fast

A: Step 1: Define Benefit-cost RatioThe benefit-cost ratio is the ratio between the benefits of a…

Q: Accounting

A: Step 1: Define Variable CostingThe variable costing method is used to prepare an income statement by…

Q: Need answer Accounting question

A: Step 1: Definition of Bond IssueA bond issue refers to a financial arrangement where an entity…

Q: Need answer of this financial accounting

A: Explanation of Economic Entity Assumption: The economic entity assumption is a fundamental…

Question

Financial Accounting

Guo Company has an owner's equity of $397,600 and a net
income of $136,608. It has a payout ratio of 21% and a return
on assets of 16%. How much did Guo pay in cash dividends,
and what was its average asset?

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

What is the amount of the net income? Accounting
What is Jordan's ROE on these general accounting question?
De Marco Corporation has total assets of $5 ST-5 million and an asset turnover ratio of 4. If net income is $2 million, what is the value of the net profit margin?
Lame Corporation generated a 1.20 total asset turnover in its total assets of P2,000,000. The firm’s liabilities of P1,800,000. The firm’s net profit margin was 1.3%. What is the firm’s return on equity?
Sectors, Inc., has an EBIT of $7,221,643 and interest expense of $611,800. Its depreciation for the year is $1,434,500. What is its cash coverage ratio?
A firm has the following accounts; sales = $1,190,000, cost of goods sold = $876,000, depreciation expense = $130,000, addition to retained earnings = $43,000. The firm's dividends per share = $1.05, tax rate = 21%, and number of shares outstanding = 19,000. What is the firm's times interest earned ratio? O 1.76 1.52 11.41 O 1.42
Can you please answer the accounting question?
What are the annual sales for a firm with $116,044 in total liabilities, a total debt ratio of 0.48, and an asset turnover of 4.75?
During the year, the senbet discount tire company had gross saels of 556900. the companys cost of goods sold and selling expenses were 189200 and 110200, respectively. The company aslo had debt of 496000 which carried and interest rate of 6 percent. depreciation was 65700, tax rate 21 percent. a. what is the companys net income? b. what was the companys operating cash flow?
A company had EBIT of $723, EBT of $221, Depreciation of $550, Net Income of $146 and taxes of $75. What is their operating cash flow?
A firm has net income of $21,350, depreciation of $2,780, interest of $640, and taxes of $10,990. The EBITDA multiple is 10.2. What is the value of the firm?
Orange Co. has liabilities of $395,000 and assets of S524,000. What percentage of the company's assets are financed by the owner's equity?