Required information [The following information applies to the questions displayed below] The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) (5 in thousands) Stockholders equity Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' evity 10 15,100 49,600 65,100 40,500 (3,000) $110,000 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands
Required information [The following information applies to the questions displayed below] The stockholders' equity section of The Seventies Shop is presented here. THE SEVENTIES SHOP Balance Sheet (partial) (5 in thousands) Stockholders equity Preferred stock, $50 par value Common stock, $5 par value Additional paid-in capital Total paid-in capital Retained earnings Treasury stock Total stockholders' evity 10 15,100 49,600 65,100 40,500 (3,000) $110,000 Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all amounts are presented in thousands
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Subject: acounting
![10
Part 46
Required information
[The following information applies to the questions displayed below]
The stockholders' equity section of The Seventies Shop is presented here.
THE SEVENTIES SHOP
Balance Sheet (partial)
(5 in thousands)
Stockholders equity
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders equity
50
15,500
49,600
65,100
40,500
(2,400)
$110,000
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands
Dividenda pad
4. If retained earnings at the beginning of the period was $41 million and net income during the year was $10756,000, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (.e., 5 should be entered as 5,000,000).)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F472621be-5969-4a54-b52e-f83201e6e65c%2Fa0b0d894-b29e-4154-86f3-c74d62f73857%2F6j137g_processed.jpeg&w=3840&q=75)
Transcribed Image Text:10
Part 46
Required information
[The following information applies to the questions displayed below]
The stockholders' equity section of The Seventies Shop is presented here.
THE SEVENTIES SHOP
Balance Sheet (partial)
(5 in thousands)
Stockholders equity
Preferred stock, $50 par value
Common stock, $5 par value
Additional paid in capital
Total paid-in capital
Retained earnings
Treasury stock
Total stockholders equity
50
15,500
49,600
65,100
40,500
(2,400)
$110,000
Based on the stockholders' equity section of The Seventies Shop, answer the following questions. Remember that all
amounts are presented in thousands
Dividenda pad
4. If retained earnings at the beginning of the period was $41 million and net income during the year was $10756,000, how much was
paid in dividends for the year? (Enter your answer in dollars not in millions. (.e., 5 should be entered as 5,000,000).)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education