Get solve this general accounting question The following information pertains to Stellar Technologies at the end of 2022:ItemAssetsLiabilitiesNet IncomeAmount ($)$1,200,000$500,000$400,000Common Stock $350,000Stellar Technologies' Retained Earnings account had a zero balance at the beginning of 2022.What amount of dividends did the company declare in 2022?

Step 1: Define Retained EarningsRetained earnings are the portion of net income that is kept in the…

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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...

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Paulson Company had the following on the dates indicated:12/31/18 12/31/17Total assetsTotal liabilities$ 530,00036,000$ 350,00023,000Paulson had no stock transactions in 2018, so the change in stockholders’ equity for 2018 wasdue to net income and dividends. If dividends were $75,000, how much was Paulson’s netincome for 2018? Use the accounting equation and the statement of retained earnings.a. $92,000b. $242,000c. $167,000d. $317,000
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ABC Company provided the following information for the year 2022:
(Figures in $ millions) Assets 2021 2022 Liabilities and Shareholders' Equity 2021 2022 Current assets $ 310 $ 420 Current liabilities $ 210 $ 240 Net fixed assets 1,200 1,420 Long-term debt 830 920 Required: a&b. What was shareholders’ equity at the end of 2021 and 2022? c. If Newble paid dividends of $100 million in 2022 and made no stock issues, what must have been net income during the year? d. If Newble purchased $300 million in fixed assets during 2022, what must have been the depreciation charge on the income statement? e. What was the change in net working capital between 2021 and 2022? f. If Newble issued $200 million of new long-term debt, how much debt must have been paid off during the year
On 12/31/2020, Heaton Industries Inc. reported retained earnings of $675,000 on its balance sheet, and it reported that it had $172,500 of net income during the year. On its previous balance sheet, at 12/31/2019, the company had reported $555,000 of retained earnings. No shares were repurchased during 20205. How much in dividends did Heaton pay during 2020? Group of answer choices A. $47,381 B. $49,875 C. $52,500 D. $55,125 E. $57,881
What would the net income/loss be for the year using the following information? Please explain your calculations used to get your numbers. Jan. 1, 2017 total assets $150,000 Dec.31, 2017 total assets $175,000 Jan. 1, 2017 total liabilities $35,000 Dec. 31, 2017 total liabilities $145,000 Dividends declared for year $25,000 Dividends paid out for the year $37,500 No Par Common Stock Sold during year $10,000
Bodie Corporation reported the following amounts in its financial statements: Retained earnings, Jan. 1, 2018 $79842 Retained earnings, Dec. 31, 2018 $60120 Net income, 2018 $53440 What were the dividends declared and paid in 2018? $___________
Financial Accounting
answer ?? General accounting
Lowell reports retained earnings at the end of fiscal 2019 of $41115 and retained earnings at the end of fiscal 2018 of $35180. The company reported dividends of $5026. How much net income did the firm report in fiscal 2019? (Round your answer to zero decimal places and omit the "$" sign. Add a minus sign if needed. For example, if your answer is $1,000.2, type in "1000") 1
On January 1 2020 the Happy Corporation had a credit balance in the retained earnings account of $1,000,000. During 2020 the following occurred: 1. Net income for the year was $500,000. 2. It was discovered the 2019 net income was understated by $100,000. 3. The following dividends were declared: On preferred stock... $ 120,000 On common stock: Cash dividends. 20,000(only 15,000 paid in 2021) Stock dividends.. 60,000 Instructions: On the worksheet provided, prepare a retained earnings statement in good form.
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