Kindly help me with accounting questions XYZ Corp. was established three years ago by issuing 10,000 shares of commonstock at $50 each and obtaining a long-term loan of $180,000. Last year, XYZreported net income of $75,000 and paid dividends of $25,000. The company alsosecured an additional loan of $120,000 last year. What was the total assets onXYZ's balance sheet at the end of last year?a. $680,000b. $730,000c. $850,000d. $705,000

Step 1: Definition of Total AssetsTotal assets represent the sum of all resources owned by a company…

Answered: XYZ Corp. was established three years…

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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What was the total assets on AWQ's balance sheet at end of the year?
Superior has provided the following information for its recent year of operation: The common stock account balance at the beginning of the year was $17,000 and the year-end balance was $18,500. The additional paid-in capital account balance increased $4,200 during the year. The retained earnings balance at the beginning of the year was $95,000 and the year-end balance was $96,000. Net income was $43,000. How much did Superior sell its common stock for during the year?
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Futuristic Development (FD) generated $2 million in sales last year with assets equal to $5 million. The firm operated at full capacity last year. According to FD's balance sheet, the only current liabilities are accounts payable, which equals $460,000. The only other liability is long-term debt, which equals $730,000. The common equity section is comprised of 500,000 shares of common stock with a book value equal to $3 million and $810,000 of retained earnings. Next year, FD expects its sales will increase by 22 percent. The company's net profit margin is expected to remain at its current level, which is 16 percent of sales. FD plans to pay dividends equal to $0.60 per share. It also plans to issue 70,000 shares of new common stock, which will raise $460,000. Estimate the additional funds needed (AFN) to achieve the forecasted sales next year. Round your answer to the nearest dollar.
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During the most current year, XYZ Corp paid $55,240 in interest and $80,400 in dividends. In order to fund a large expansion, the company also raised $297,000 in new equity and borrowed &197000 via the bond market, though a portion of the new borrowing was used to pay back $174,000 in bonds that were maturing this year. Calculate the cash flow to Shareholders.
Bonita Co. invested $910,000 in Windsor Co. for 25% of its outstanding stock. Windsor Co. pays out 30% of net income in dividends each year.Use the information in the following T-account for the investment in Windsor to answer the following questions. Investment in Windsor Co. 910,000 99,000 29,700 (a) How much was Bonita Co.’s share of Windsor Co.’s net income for the year? Net income $enter Bonita’s net income in dollars (b) What was Windsor Co.’s total net income for the year? Total net income $enter the total net income of WindsorCo. for the year (c) What was Windsor Co.’s total dividends for the year? Total Dividends $enter the total dividends of WindsorCo. for the year (d) How much was Bonita Co.’s share of Windsor Co.’s dividends for the year? Dividends $enter the dollar amount of dividends for Bonita Co.
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Pronghorn Co. invested $920,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Stellar to answer the following questions. Investment in Stellar Co. 920,000 110,000 33,000 (a) How much was Pronghorn Co's share of Stellar Co's net income for the year? Net income $ (b) What was Stellar Co's total net income for the year? Total net income +A $ (c) What was Stellar Co's total dividends for the year? Total Dividends $ (d) How much was Pronghorn Co's share of Stellar Co's dividends for the year? Dividends $
In its most recent financial statements, Nessler Inc. reported $55 million of net income and $1,045 million of retained earnings. The previous retained earnings were $1,003 million. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid. Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary. $

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