Kennedy Company issued stock to Ed Kennedy in exchange for his investment of $66,000 cash in the business. The company recorded revenues of $578,000 and expenses of $495,000, and the company paid dividends of $49,000. What was Kennedy's net income for the year?
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Kennedy Company issued stock to Ed Kennedy in exchange for his investment of $66,000 cash in the business. The company recorded revenues of $578,000 and expenses of $495,000, and the company paid dividends of $49,000. What was Kennedy's net income for the year?
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- Goldfinger Corporation had account balances at the end of the currentyear as follows: sales revenue, $29,000; cost of goods sold, $12,000;operating expenses, $6,200; and income tax expense, $4,320. Assumeshareholders owned 4,000 shares of Gold finger's common stock duringthe year. Prepare Goldfinger's income statement for the current year.Brighton Corporation issued stock to a new investor for $120,000 in cash. The company recorded revenues of $750,000 and expenses of $620,000. It also paid dividends of $40,000. What was Brighton Corporation's net income for the year?How much was miller net income for the year?
- You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $800,000, accounts receivable = $1,600,000, inventory = $2,100,000, accrued wages and taxes = $570,000, accounts payable = $870,000, and notes payable = $670,000. Calculate Goodman Bees' net working capital. (Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.) Net working capitalI want to this question answer general Accounting questionBonita Co. invested $910,000 in Windsor Co. for 25% of its outstanding stock. Windsor Co. pays out 30% of net income in dividends each year.Use the information in the following T-account for the investment in Windsor to answer the following questions. Investment in Windsor Co. 910,000 99,000 29,700 (a) How much was Bonita Co.’s share of Windsor Co.’s net income for the year? Net income $enter Bonita’s net income in dollars (b) What was Windsor Co.’s total net income for the year? Total net income $enter the total net income of WindsorCo. for the year (c) What was Windsor Co.’s total dividends for the year? Total Dividends $enter the total dividends of WindsorCo. for the year (d) How much was Bonita Co.’s share of Windsor Co.’s dividends for the year? Dividends $enter the dollar amount of dividends for Bonita Co.
- You are evaluating the balance sheet for Goodman Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities = $400,000, accounts receivable = $1,200,000, inventory = $2,100,000, accrued wages and taxes = $500,000, accounts payable = $800,000, and notes payable = $600,000. Calculate Goodman Bees' net working capital. (Enter your answer in dollars not in millions. Round your answer to the nearest dollar amount.)You are evaluating the balance sheet for Goodman's Bees Corporation. From the balance sheet you find the following balances: cash and marketable securities- $400,000, accounts receivable $1,200,000, inventory = $2,100,000, accrued wages and taxes = $500,000, accounts payable = $800,000, and notes payable $600,00o. Calculate Goodman Bees' net working capital. (Enter your answer In dollors not In mlllons. Round your answer to the nearest dollar amount.) Net working capital Ic W 59 F Mos Type here to search DELLThelma and Louie, Inc. started the year with a balance of retained earnings of $545 million and ended the year with retained earnings of $590 million. The company paid dividends of $35 million to the preferred stockholders and $75 million to common stockholders. Calculate Thelma and Louie’s net income for the year.
- James Corporation earned net income of $94,000 this year. The company began the year with 500 shares of common stock and issued 400 more on April 1. They issued $5,300 in preferred dividends for the year. What is the EPS for the year for James? Round your answer to the nearest dollar amount.Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.Baltimore Company reports total assets and total liabilities of $236,000 and $115,000, respectively, at the conclusion of its first year of business. The company earned $75,500 during the first year, and distributed $31,000 to shareholders as dividends. How much did shareholders initially invest in the business?