Answered: If during the year total assets…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter16: Statement Of Cash Flows: Another Look

Section: Chapter Questions

Problem 18P

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If during the year total assets increase by $83,000 and total liabilities decreased by $20,000, by how much did owners equity increase/ decrease? General Account.
If total assets decreased by $48,064 during a period of time and stockholders' equity increased by $30,995 during the same period, what is the amount and direction (increase or decrease) of the period's changes in total liabilities?
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Net Income for the Year?
General accounting
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: Current Year Prior Year Accounts payable $552,000 $162,000 Current maturities of serial bonds payable 370,000 370,000 Serial bonds payable, 10% 1,520,000 1,890,000 Common stock, $1 par value 80,000 100,000 Paid-in capital in excess of par 900,000 900,000 Retained earnings 3,090,000 2,460,000 The income before income tax expense was $491,400 and $430,000 for the current and prior years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year Prior year b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year Prior year
What was the return you received over the year on these financial accounting question?
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What is summits net income for the year?
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Net income was $448,600 in the current year and $365,500 in the prior year. The year-to- year percentage change in net income is an increase of: Multiple Choice 19%. 81%. 49%. 23%.

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If during the year total assets increase by $83,000 and total liabilities decreased by $20,000, by how much did owners equity increase/ decrease?