Problem 5. John Rey Company showed total assets and total liabilities of P900,000 and P400,000 respectively. During theyear, total assets increased by 30% while total liabilities decreased by 10%. Assuming that of he increase in Owner's Equity byP50,000 was due to additional investment made by the owner, how much increase in owner's equity could be attributed tooperating results?

Owner equity means the amount that belong to the owner of the business. Any profit will increase…

Answered: Problem 5. John Rey Company showed…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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?
If during the year total assets increase by 55000 and total liabilities decrease by 36000, by how much did owner's equity increase/decrease?
a. At the beginning of the year, Addison Company's assets are $286,000 and its equity is $214,500. During the year, assets increase $80,000 and liabilities increase $42,000. What is the equity at year-end? b. Office Store Company has assets equal to $207,000 and liabilities equal to $174,000 at year-end. What is the equity for Office Store Company at year-end? c. At the beginning of the year, Quaker Company's liabilities equal $52,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $19,000 during the year. What are the beginning and ending amounts of equity? Complete this question by entering your answers in the tabs below. Required A Required B Required C At the beginning of the year, Quaker Company's liabilities equal $52,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $19,000 during the year. What are the beginning and ending amounts of equity? Beginning Change…
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Vaughn Manufacturing started the year with total assets of $304000 and total liabilities of $244000. During the year the business recorded $628000 in revenues, $335000 in expenses, and dividends of $61000. The net income reported by Vaughn Manufacturing for the year was $232000. $173000. $293000. $563000.
A firm invested in equipment to improve its overall production in the beginning of year 1 ,paying 40 million in cash. Assume a useful life of 4 years for the firm and a residual value of 16 million. What is the effect on equity (retained earnings) in year 3?
The income statement for Forklift Electrical Ltd for two years is attached as a pic. Determine the operating income (loss) (dollars) for each year. The company made a strategic decision to invest in additional assets in the current year. These amounts are provided. Using the amounts of the total assets as the investment base, calculate the return on investment. Was the decision to invest additional assets in the company successful? Explain
6. Crystal Béll Company generated $48,900 in net income during the year. Included in this number are a deprecation expense of $13,000 and a gain on the sale of equipment of $4,000. In addition, accounts receivable increased by $16,000,inventory decreased by $5,090, accounts payable decreased $4,330 and interest payable increased $1,200. Based on the above information, what would Crystal Bell's cash flow from operations using the indirect method? (A). $54,120 (B). $71,940 (C). $48,900 0)) $43,860
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The balance sheet of HR, Inc. reports total equity of $900,000 and $1,100,000 at the beginning and end of the year, respectively. The return on equity for the year is 20%. What is HR's net income for the year? Select one: a. $200,000 b. $180,000 c. $198,000 d. $162,000 e. $220,000 Clear my choice

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