The Phoenix Mercury sold 30 season baseball tickets at $2,000 each for the upcoming season. How does this transaction affect the accounting equation? Increase Stockholders' Equity $60,000; Decrease Liabilities $60,000 Increase Stockholders' Equity $60,000; Increase Liabilities $60,000 Increase Assets $2,000; Increase Stockholders' Equity $2,000 Increase Assets $60,000; Increase Liabilities $60,000
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- Examine the following income statement: Approximately how much does the outstanding debt cost shareholders every year? a. $50 b. $33 c. $88The balance sheets of HR, Inc. reports total stockholders' equity of $500,000 and $650,000 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. $2,875,000 b. $250,000 c. $130,000 d. $115,000 e. $100,000The accounting equation for Henry Enterprises is as follows: Assets Liabilities +Stockholders' Equity %3D $720,000 $360,000 $360,000 If the company now prepays rent of $54,000 for the next six months, the accounting equation will change to: Select one: A. Assets Liabilities Stockholders' Equity $774,000 $414,000 $360,000 %3D В. Assets Liabilities Stockholders' Equity $720,000 $360,000 $360,000 %3D С. Assets Liabilities Stockholders' Equity $720,000 $414,000 $306,000 Type here to search
- Determine the missing amounts. (Hint: For example, to solve for (a), Assets – Liabilities = Stockholders’ Equity = $35,000.) Ayayai Company Kingbird Company Michelangelo Company Raphael CompanyJanuary 1, 2019 Assets $ 105,000 $154,000 $ (g) $210,000 Liabilities 70,000 (d) 105,000 (j)Stockholders’ equity (a) 84,000 63,000 140,000 December 31, 2019 Assets (b) 191,800 280,000 (k)Liabilities 77,000 105,000 (h) 112,000 Stockholders’ equity 56,000 (e) 182,000 196,000 Stockholders’ equity changes in year Additional investment (c) 21,000 14,000 21,000 Dividends 14,000 (f) 19,600 14,000 Total revenues 490,000 588,000 (i) 700,000 Total expenses 462,000 539,000 478,800 (l)How do I get both sides to balance? Assets =Liabilities and Stockholders Equity? I cant seem to find the shareholders equity amount. Assets Liabilities and Stockholders Equity Cash $ 7,000.00 Accounts Payable $14,000 Accounts Recievable $ 19,000.00 Long-Term Debt $140,000 Inventory $170,000.00 Shareholders Equity $7,000 PP&E $ 70,000.00 266,000 $161,000 Cash $ 7,000.00 inventory of TV $ 170,000.00 PP&E 70000 Accounts Recievable $ 19,000.00 Accounts Payable $14,000 Long-Term Debt $140,000 Shareholders Equity XXwhat is the total stockholders' equity? is it the same as total stockholders' deficit? I am looking for the average stockholders' equity to do the Return on Equity formula.
- Given the following information, what is the ratio of liabilities to stockholders' equity? Fixed assets (net) at year-end $400,000 Average fixed assets 450,000 Total assets 500,000 Long-term liabilities 300,000 Total liabilities 350,000 Total stockholders' equity 250,000 Total liabilities and stockholders' equity 500,000 Interest expense 5,000 Income before income tax 150,000 Net income 100,000 O a. 0.7 O b. 1.2 O c. 1.4 O d. 0.6A company's financial statements include the following selected data ($ in millions): Sales, $22,600; Net income, $900; Beginning stockholders' equity, $3,540; Ending stockholders' equity, $4,200.Calculate the return on equity. (Round your answer to 1 decimal place.) Return on equity: _________%Please give me answer general accounting
- You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Beginning of Year: End of Year: Assets Net Income (Loss) $27,000 $61,000 Dividends Liabilities $16,000 1) What is the balance in shareholder's equity at the beginning of the year? Beginning Equity 11,000 $29,000 3) If the company issues common shares of $9,900 and pay dividends of $36,700, how much is net income (loss)? 5) If the company issues common shares of $15,900 and net income is $19,600, how much is dividends? 2) What is the equity at the end of the year? Ending Equity 4) If net income is $1,800 and dividends are $7,500, what was the value of common shares issued? Common Shares 32,000 6) If the company issues common shares of $42,200 and pay dividends of $2,400, how much is net income (loss)? Net Income (Loss)Calculate the equity multiplier (total assets / total equity) for the firm below. Make sure you do NOT convert your answer and keep 2 decimals for your final answer.....for examples, if you calculate 6,000/400 = 15, you should enter 15 into BB to be marked correct. Sales $5,000 COGS $1,200 Depreciation $800 Interest $500 Net Income $200 Total Assets 5000 Total Equity 1400Determine the missing amounts. (Hint: First determine the amount of increase or decrease in stockholders' equity during the year.) Round your answers to the nearest dollar. Enter your answers as positive values. Freeman Heyward Jones Ramirez Beginning of the year: Assets $ 693,100 $ 810,900 $ 298,000 $ Liabilities 415,900 421,700 226,500 377,400 End of the year: Assets 859,400 1,135,300 268,200 780,000 Liabilities 374,300 356,800 238,400 427,700 During the year: Additional common stock issued 162,200 29,800 125,800 Dividends 48,500 48,700 184,500 Revenue 228,700 342,700 352,300 Expenses 124,800 210,800 366,500 402,600