Parker Corporation's owner's equity is $800,000, and total liabilities are $400,000. The company issued $100,000 in additional stock during the year. What are Parker Corporation's total assets? A. $400,000 B. $800,000 C. $1,200,000 D. $1,300,000

Parker Corporation's owner's equity is $800,000, and total liabilities are $400,000. The company issued $100,000 in additional stock during the year. What are Parker Corporation's total assets? A. $400,000 B. $800,000 C. $1,200,000 D. $1,300,000

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...

See similar textbooks

Related questions

Q: Please provide this question solution general accounting

A: Step 1: Formulas Profit = Selling price - CostsDifferential revenue = Profit from Selling as Product…

Q: None

A: Step 1: Define Current LiabilityCurrent liability can be defined as the amount which our company is…

Q: Lotus Inc.

A: Step 1: Underapplied/Overapplied There is an underapplied overhead if the actual overhead exceeds…

Q: net income? Cost Account

A: To determine Baltimore's net income, we use the accounting equation and the concept of changes in…

Q: Financial Accounting Question

A: Step 1: Define Weighted Average Cost of CapitalA company can finance all its operations from various…

Q: Provide correct answer general Accounting question

A: Step 1: Define Financing ActivitiesFinancing activities refer to activities related to the capital…

Q: Hello tutor please provide this question solution

A: Step 1: Definition of Lower of Cost or Market (LCM)The Lower of Cost or Market (LCM) principle is an…

Q: Provide correct answer the following requirements for this general accounting question

A: Step 1: Define Overhead ApplicationOverhead application involves assigning indirect costs to jobs…

Q: Do fast answer of this accounting questions

A: Step 1: Definition of Gross MarginGross Margin represents the difference between net sales revenue…

Q: Need help

A: Step 1: Define Accounts Receivable TurnoverThe Accounts Receivable Turnover ratio is a financial…

Q: If a business has a net income of $44,700 and total equity of $111,750, what is the ROE? a.10% b.…

A: 1. Understand Return on Equity (ROE)ROE measures a company's profitability relative to the money…

Q: Quick answer of this accounting questions

A: Detailed explanation:Given:Sales, $ 800,000Variable Costs, 65% of SalesOperating Income, $ 75,000…

Q: What was the net income for the period for this general accounting question?

A: Step 1: Define Net IncomeNet Income is the amount of earnings left after deducting all expenses,…

Q: Hello.tutor please provide correct answer general Accounting

A: Step 1: Define Equivalent Units of ProductionEquivalent units of production (EUP) are a measure of…

Q: Hi, tutor solve this accounting problem

A: Explanation of Total Manufacturing Cost:Total manufacturing cost represents the total expenses…

Q: If a firm experience decreases in the per-unit costs of production as its network increases, then…

A: A. Economies of ScopeThe cost benefits that a company receives by manufacturing a range of goods…

Q: None

A: Step 1: Definition of Contribution MarginThe Contribution Margin (CM) per unit is the amount each…

Q: Please need answer the financial accounting question

A: Step 1: Define Payout RatioThe Payout Ratio is a financial metric that measures the percentage of a…

Q: General aCCOUNT

A: To determine the change in total assets, we apply the accounting equation:…

Q: Quick answer of this accounting questions

A: Step 1: Definition of Degree of Operating Leverage (DOL)The degree of operating leverage (DOL)…

Q: What is champion total assets turnover?

A: Explanation: The formula to calculate total asset turnover is = Sales/Total asset Following data is…

Q: I need this question answer financial accounting

A: Step 1: Define Sales TaxSales tax is payable by a business corporation to a specific government…

Q: What are the earings per share on these financial accounting question?

A: Step 1: Define Earnings Per Share (EPS)Earnings Per Share (EPS) is a financial ratio that indicates…

Q: Prepare its income statement for the year under variable costing..(accounting)

A: Step 1: Sales RevenueThe sales revenue is calculated as: Sales Revenue=Units…

Q: General Accounting

A: The nominal interest rate (quoted rate) on a bond can be broken down using the following…

Q: Which of the following is a current liability? (a) Notes Payable (due in 2 years) (b) Bonds Payable…

A: Option a: This option is incorrect because Notes Payable (due in 2 years) is not a current liability…

Q: Constant debt equity ratio?

A: Step 1: Current Debt-Equity Ratio: 1.Current Market Value of Equity:Equity=Shares Outstanding× Share…

Q: All of the following describe a liability except _. . general account

A: The correct answer is:a. investments by owners Explanation:A liability is an obligation or debt a…

Q: I want to correct answer accounting questions

A: Step 1: Definition of TermsCash Conversion Cycle (CCC): The CCC measures the time it takes for a…

Q: Do fast answer of this accounting questions

A: Step 1: Definition of Maturity ValueThe maturity value of a note payable is the total amount that…

Q: Financial accounting question

A: Step 1: Define Cash Flow StatementCash flow statement refers to one of the financial statements…

Q: Hi expert provide correct answer

A: Long-term investments are assets the company intends to hold for a period beyond 1 year after the…

Q: Quick answer of this accounting questions

A: Step 1: Definition of Net Income After TaxNet income after tax is the profit a company earns after…

Q: Baltimore Company experienced an increase in total assets of $10,500 during the current year. During…

A: To determine Baltimore's net income, we use the accounting equation and the fact that the increase…

Q: Financial accounting 3.2.36

A: Explanation of Total Asset Turnover: Total Asset Turnover is a financial ratio that measures how…

Q: What is the fixed cost per month for this accounting question?

A: Step 1: Define Fixed CostFixed costs are the costs that remain constant regardless of the level of…

Q: Give me correct answer the general accounting question

A: Step 1: Define Gross Profit and Gross Profit RatioGross Profit: The difference between net sales and…

Q: The cost of goods sold is found on which financial statement? (1) Income Statement (2) Balance Sheet…

A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) refers to the direct costs…

Q: A product has a selling price of $63, variable costs of $55, and fixed costs are $72,000. How many…

A: Concept of Selling PriceThe selling price is the amount a customer pays for one unit of a product or…

Q: Rodriguez Company pays $522,160 for real estate with land, land improvements, and a building. The…

A: Explanation of Cost Allocation:Cost allocation refers to the process of distributing the total…

Q: Kindly help me with accounting questions

A: Step 1: Formula Amortization is an accounting method for decreasing an asset cost over time. Monthly…

Q: Kindly help me with accounting questions

A: Step 1: Definition of Cost of Merchandise Sold (COGS)Cost of Merchandise Sold (COGS) is the total…

Q: I want to correct answer accounting questions

A: Step 1: Definition of EquityEquity represents the residual interest in the assets of a company after…

Q: Answer? ? General Accounting question

A: Step 1: Define TermsDirect Materials/Unit: Cost of materials per unit produced.Direct Labor/Unit:…

Q: Need help with this accounting questions

A: To answer the question correctly, let's calculate Rose Inc.'s taxable income step by…

Q: Expert of general account help me to solve...

A: When a company recognizes the cost of goods sold (COGS), it records the expense of inventory that…

Q: What is the answer?

A: Explanation of Net Income:Net income is the profit earned by a company after deducting all expenses,…

Q: Accounting

A: To calculate the unit product cost under variable costing, we consider only the variable production…

Q: Provide correct option general accounting

A: Detailed explanation:Given:Selling price per unit $80Variable costs per unit, 55% of selling price…

Q: What is ROA?

A: We are required to compute for the return on assets.Return on assets (ROA) is a profitability ratio…

Question

Hi expert please give me answer general accounting question

Parker Corporation's owner's equity is $800,000, and total liabilities are
$400,000. The company issued $100,000 in additional stock during the
year. What are Parker Corporation's total assets?
A. $400,000
B. $800,000
C. $1,200,000
D. $1,300,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

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
Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?
During 20X2, Evans Company had the following transactions: a. Cash dividends of 6,000 were paid. b. Equipment was sold for 2,880. It had an original cost of 10,800 and a book value of 5,400. The loss is included in operating expenses. c. Land with a fair market value of 15,000 was acquired by issuing common stock with a par value of 3,600. d. One thousand shares of preferred stock (no par) were sold for 4.20 per share. Evans provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Evans Company.
During 20X2, Norton Company had the following transactions: a. Cash dividends of 20,000 were paid. b. Equipment was sold for 9,600. It had an original cost of 36,000 and a book value of 18,000. The loss is included in operating expenses. c. Land with a fair market value of 50,000 was acquired by issuing common stock with a par value of 12,000. d. One thousand shares of preferred stock (no par) were sold for 14 per share. Norton provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Norton Company.
If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity is: A. $32,000. B. $(32,000). C. $(8000). D. $8,000.
Accounting XYZ Corporation had the following balance sheet information: Total assets: $500,000Total liabilities: $200,000Shareholders' equity: $300,000If XYZ Corporation has 50,000 shares outstanding, what is the book value per share?
The income statement for Stellar Industries shows income before income taxes $750,000, income tax expense $225,000, and net income $525,000. If Stellar has 150,000 shares of common stock outstanding throughout the year, earnings per share is: a. $5.00 b. $3.50 c. $1.50 d. $2.00
Houghton Company has the following items: share capital- ordinary, $820,000; treasury shares, $85,000; deferred taxes, $100,000 and retained earnings, $313,000. What amount should Houghton Company report as total equity?
how much is the book value?
What total amount should olsen corporation report?
Sun City Corporation's end-of-year balance sheet consisted of the following amounts: Cash Property, plant, and equipment Capital stock Retained earnings $ 25,000 70,000 100,000 Ob. $200,000 Oc. $165,000 Od. $100,000 7 Accounts receivable Long-term debt Accounts payable Inventory What amount should Sun City report on its balance sheet for total assets? Oa. $95,000 $70,000 40,000 20,000 35,000
The balance sheet for Fanning Corporation follows: Current assets $ 247,000 Long-term assets (net) 752,000 Total assets $ 999,000 Current liabilities $ 144,000 Long-term liabilities 452,000 Total liabilities 596,000 Common stock and retained earnings 403,000 Total liabilities and stockholders’ equity $ 999,000 RequiredCompute the following. (Round "Ratios" to 1 decimal place.) Working capital Current ratio Debt-to-assets ratio Debt-to-equity ratio