Mazaya Company started the year with total assets of RO.360,000 and total liabilities of R.O.240,000. During the year, the business recorded R.O.6o0,000 in computer repair revenues, R.O.320,000 in expenses, and the company paid dividends of R.O.60,000. Total equity changed by what amount from the beginning of the year to the end of the year?

Mazaya Company started the year with total assets of RO.360,000 and total liabilities of R.O.240,000. During the year, the business recorded R.O.6o0,000 in computer repair revenues, R.O.320,000 in expenses, and the company paid dividends of R.O.60,000. Total equity changed by what amount from the beginning of the year to the end of the year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

At the beginning of the current fiscal year, the balance sheet of Arches Co. showed liabilities of $760,000. During the year liabilities increased by $20,000, assets increased by $110,000, and paid-in capital increased by $40,000 to $330,000. Dividends declared and paid during the year were $120,000. At the end of the year, stockholders' equity totaled $804,000. Calculate net income or loss for the year.
in the firm's most recent financial statements, newhouse, inc. reported 57 mil usd of ni and 808 mil usd of retained earnings.the previous retained earnings were 779.000 mil usd. how much in dividends were paid to shareholders during the year? assume that all dividends declared were actually paid."
Wifi Around reports net income for the year of $220,000. Retained earnings at the beginning and end of the year are $810,000 and $930,000, respectively. What is the cash paid for dividends during the year (assume any dividends declared were paid)?
Baltimore Company reports total assets and total liabilities of $251,000 and $110,000, respectively, at the conclusion, of its first year of business. The company earned $81,500 during the first year and distributed $27,000 to shareholders as dividends. How much did shareholders initially invest in the business?
Maynard Enterprises paid $1,804 in dividends and $1,802 in interest over the past year. The common stock account increased by $1,632 and retained earnings decreased by $724. What was the company's net income? $1,080 $2,356 $908 $2,528 $2,712
The net income of Hendley, Inc. for the year is $35,000. The dividends declared during the year were $43,000. Which of the following statements is true? A. Retained Earnings account decreases by $8,000. B. Retained Earnings will remain the same. C. Retained Earnings account decreases by $35,000. D. Retained Earnings account increases by $43,000.
Current balances in liability and equity accounts: Total liabilities: $28,059,085, Common Stock: $13,308,000, Retained Earnings: $59,143,173. Next year the company generates $36,000,000 in net profit and pays $15,000,000 in dividends. Total Liabilities and Common Stock remain unchanged. What will total assets be next year?
How do you calculate the first years net income under the cash basis of accoun
For the year, I Company reports revenues of 800,000, expenses of 600,000, and dividends of 50,000. By how much will the balance of retained earnings increase for the year?
Gilmore, Inc., had equity of $220,000 at the beginning of the year. At the end of the year the company had total assets of $375,000. During the year, the company sold no new equity. Net income for the year was $46,000 and dividends were $6,800. a. Calculate the internal growth rate for the company. (Do not round intermediate b. Calculate the internal growth rate using ROA x b for beginning of period total assets. c. Calculate the internal growth rate using ROA x b for end of period total assets. (Do calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Galveston Corporation’s ending balance of Retained Earnings increased by $2 million from the beginning of the year. The company’s net income for the year was $3.1 million. What is the amount of dividends that were declared and paid?
For the year, the Bridgewater Co. has net income of $27,400, net new equity of $12,000, and an addition to retained earnings of $19,600. What is the amount of the dividends paid?