Use the following information for USA Movers, Inc. for the year ended June 30, 2009 to answer the following questions. Assume that the shareholders made no new contributions (no capital stock was issued) to the company during the year, ending June 30, 2009. Revenues for the year ended June 30, 2009 = $350 Net income for the year ended June 30, 2009 = $110 Beginning balance (June 30, 2008 balance) in retained earnings = $140 Ending balance (June 30, 2009, balance) in retained earnings = $200 Total liabilities and shareholders' equity at June 30, 2009 = $600 Total liabilities at June 30, 2008 = $60 Total liabilities at June 30, 2009 = $50 %3D %3D %3D Questions: (1) What were USA Movers' total expenses during the year ended June 30, 2009? Language (2) What was the amount of the dividends declared and paid during the year ended June 30, 2009? (3) What is the total that owners invested in the USA Movers as of June 30, 2009?

Use the following information for USA Movers, Inc. for the year ended June 30, 2009 to answer the following questions. Assume that the shareholders made no new contributions (no capital stock was issued) to the company during the year, ending June 30, 2009. Revenues for the year ended June 30, 2009 = $350 Net income for the year ended June 30, 2009 = $110 Beginning balance (June 30, 2008 balance) in retained earnings = $140 Ending balance (June 30, 2009, balance) in retained earnings = $200 Total liabilities and shareholders' equity at June 30, 2009 = $600 Total liabilities at June 30, 2008 = $60 Total liabilities at June 30, 2009 = $50 %3D %3D %3D Questions: (1) What were USA Movers' total expenses during the year ended June 30, 2009? Language (2) What was the amount of the dividends declared and paid during the year ended June 30, 2009? (3) What is the total that owners invested in the USA Movers as of June 30, 2009?

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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