Orion Devices Ltd. reported the following for the year: Stockholders' equity at the beginning of the year = $300,000 . • Net income for the year = $140,000 • • • Dividends declared = $30,000 Issued stock to stockholders for cash = $50,000 Stockholders sold stock to other stockholders for $15,000 (this transaction does not affect the company's equity) What is Orion Devices Ltd.'s stockholders' equity at the end of the year? a) $460,000 b) $455,000 c) $470,000 d) $475,000

Orion Devices Ltd. reported the following for the year: Stockholders' equity at the beginning of the year = $300,000 . • Net income for the year = $140,000 • • • Dividends declared = $30,000 Issued stock to stockholders for cash = $50,000 Stockholders sold stock to other stockholders for $15,000 (this transaction does not affect the company's equity) What is Orion Devices Ltd.'s stockholders' equity at the end of the year? a) $460,000 b) $455,000 c) $470,000 d) $475,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 10CDQ: Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total...

See similar textbooks