Sadaf Oman Company started the year with total assets of RO 360,000 and total liabilities of RO 240,000.During the year, the business recorded RO 600,000 in revenues, RO 340,000 in expenses, and the company paiddividends of RO 60,000. Equity at the end of the year wasSelect oneO a. RO 320,000.onO b. RO 380,000.Oc RO 300,000.Od RO 260,000.

Equity is the total amount attributable to the owners and shareholders. Total Equity = Total Assets…

Answered: Sadat Oman Company started the year…

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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On january 1, christian company showed total assets of 5,000,000, total liabilities of 2 million and contributed capital of 2 million. during the current year, the entity issued share capital of 500,000 par value at a premium of 300,000. dividend of 250,000 was paid on december 31. on december 31, total assets amounted to 7500000 And total liabilities amounted to 3200000. what amount was reported as net income for the current year ? A. 1,750,000 B. 1 million C. 750,000 D. 500,000
Zero Corp's total common equity at the end of last year was $350,000 and its net income was $70,000. What was its ROE? a. 19.40% b.24.20% O c. 17.00% d. 17.40% e. 20.00%
am.104.
Blossom Company began the year with stockholders' equity of $107700. During the year, Blossom issued stock for $ 147800, recorded expenses of $412000, and paid dividends of $27800. If Blossom's ending stockholders' equity was $290300, what was the company revenue for the year? $594600. $446800. $ 474600. $622400.
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.
On December 31. Sulfur Corporation has the following data available: Net Income $140,000 Interest expense 20,000 Total assets at the beginning of the year 720,000 Toital assets at the end of the year 810,000 Total common stockholders' equity at the beginning of the year 440,000 Total common stockholders' equity at the end of the year 300,000 What is return on equity? A. 32.43% B. 27.03% C. 37.84% D. 15.69%
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Following information is given below for a company Sales during the year : Rs. 5,00,000 Gross profit margin: Opening Stock Closing Stock Direct Expenses Average Creditors : 25% : Rs.37,500 : Rs. 42,500 : Rs.20,000 : Rs.1,75,000 Find out Creditors turnover ratio
The year-end financial statements of Greenway Company contained the following elements and corresponding amounts: Assets = $23,000; Liabilities = ?; Common Stock = $5,300; Revenue = $11,600; Dividends = $900; Beginning Retained Earnings = $3,900; Ending Retained Earnings = $7,300. The amount of liabilities reported on the end-of-period balance sheet was A. $11,200. B. $10,400. C. $13,800. D. $9,200.
Al Rahami Shop started the year with total assets of OMR210,000 and total liabilities of OMR120,000. During the year, the business recorded OMR 430,000 in revenues, OMR 265,000 in expenses, and dividends of OMR 60,000. The net income reported by Al Rahami Shop for the year was: a)OMR 150,000. bJOMR 120,000. c)OMR 165,000. DJOMR 195,000.
At the beginning of the year, paid-in capital was $164 and retained earnings were $94. During the year, the shareholders invested $48 and dividends of $12 were declared and paid. Retained earnings at the end of the year were $104. Net income for the year was: A.$20 B. $22 C. $30 D. $40

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