Correct option? ? On a statement of retained earnings, the beginning capital is $55,000. Net income for the year is $15,000and Cash Dividends paid for the year are $8,000, the ending capital amount would be:a. $55,000b. $62,000c. $47,000d. $70,000

Step 1: Define Ending Capital (Retained Earnings)The statement of retained earnings calculates the…

Answered: On a statement of retained earnings,…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectively
Calculate (a) interest expense, (b) taxable income, and (c) earnings per share if: DFL = 1.56, EBIT = $702,000; tax rate = 25%, common stock outstanding = 100,000 shares. Show work.
A pro-forma balance sheet shows that the TOTAL ASSETS amounted to P3,125,900; Current Liabilities = P790,350; Non-current Liabilities = P150,000; Common Stock = P1,085,000. Retained earnings from the previous year amounted to P475,000. The Pro-forma income statement shows a net income amounting to P825,000. Dividend payout ratio = 19.5%. Compute for the EFN (external financing needed) or Extra Fund.
Create a Balance sheet for this information given:
Jordan Manufacturing reports the following capital structure: Current liabilities P100,000 ; Long-term debt 400,000 ; Deferred income taxes 10,000 ; Preferred stock 80,000 ; Common stock 100,000 ; Premium on common stock 180,000 ; Retained earnings 170,000. What is the debt ratio? A. 0.48 B. 0.49 C. 0.93 D. 0.96
Tibbs Inc. had the following data for the year ending 12/31/12: Net income = $400; Net operating profit after taxes (NOPAT) = $450; Total assets = $2,600; Short-term investments = $200; Stockholders' equity = $1,600; Total debt = $1,000; and Total operating capital = $2,200. What was its return on invested capital (ROIC)? Group of answer choices 14.32% 22.50% 16.36% 20.45% 18.41%
Gympa reported on its income statement a net income $647,000 for the year ended December 31 before considering the following: a. During the year, Gympa purchased trading securities b. At year-end , the fair value of the investment portfolio was $50,000 lesshan the cost c. The balance of Retained Earnings was $792,000 on January 1 d. Gympa paid $67,000 in cash dividends during the year. Using the above data, calculate the balance of Retained Earnings on Decemeber 31.
A summary of the transactions affecting the stockholders’ equity of Strait Corporation during thecurrent year follows: Prior period adjustment (net of income tax benefit) . . . . . . . . . . . . . . . . . . . . . . . . $ (80,000)Issuance of common stock: 10,000 shares of $10 par valuecapital stock at $34 per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 340,000Declaration and distribution of 5% stock dividend (6,000 shares,market price $36 per share) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (216,000)Purchased 1,000 shares of treasury stock at $35 . . . . . . . . . . . . . . . . . . . . . . . . . (35,000)Reissued 500 shares of treasury stock at a price of $36 per share . . . . . . . . . . . 18,000Net income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 845,000Cash dividends declared . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…
Total dividends of P 1,220,000 were declared on the Preference share and Ordinary share during the year. Retained earnings during the year decreased by P 1,000,000. How much was the profit or (net loss) for the year? If your answer is a net loss, put a parenthesis.
Assume Skyler Industries has debt of $4,268,000 with a cost of capital of 7.0% and equity of $5,432,000 with a cost of capital of 10.8%. What is Skyler's weighted average cost of capital? Round your intermediate calculations and final answer to 3 decimal places. %
Denna Company’s working capital accounts at the beginning of the year follow: Cash $ 69,000 Marketable securities $ 25,900 Accounts receivable, net $ 347,600 Inventory $ 457,400 Prepaid expenses $ 7,800 Accounts payable $ 198,200 Notes due within one year $ 98,000 Accrued liabilities $ 59,100 During the year, Denna Company completed the following transactions: Paid a cash dividend previously declared, $29,000. Issued additional shares of common stock for cash, $198,000. Sold inventory costing $69,200 for $99,000, on account. Wrote off uncollectible accounts in the amount of $9,600, reducing the accounts receivable balance accordingly. Declared a cash dividend, $29,000. Paid accounts payable, $98,400. Borrowed cash on a short-term note with the bank, $58,500. Sold inventory costing $19,800 for $13,200 cash. Purchased inventory on account, $49,250. Paid off all short-term notes due, $156,500. Purchased equipment for cash, $74,200. Sold marketable securities…
Denna Company’s working capital accounts at the beginning of the year follow: Cash $ 69,000 Marketable securities $ 25,900 Accounts receivable, net $ 347,600 Inventory $ 457,400 Prepaid expenses $ 7,800 Accounts payable $ 198,200 Notes due within one year $ 98,000 Accrued liabilities $ 59,100 During the year, Denna Company completed the following transactions: Paid a cash dividend previously declared, $29,000. Issued additional shares of common stock for cash, $198,000. Sold inventory costing $69,200 for $99,000, on account. Wrote off uncollectible accounts in the amount of $9,600, reducing the accounts receivable balance accordingly. Declared a cash dividend, $29,000. Paid accounts payable, $98,400. Borrowed cash on a short-term note with the bank, $58,500. Sold inventory costing $19,800 for $13,200 cash. Purchased inventory on account, $49,250. Paid off all short-term notes due, $156,500. Purchased equipment for cash, $74,200. Sold marketable securities…

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On a statement of retained earnings, the beginning capital is $55,000. Net income for the year is $15,000 and Cash Dividends paid for the year are $8,000, the ending capital amount would be: a. $55,000 b. $62,000 c. $47,000 d. $70,000