General accounting XYZ Corp. was incorporated three years ago by issuing 8,000 shares ofcommon stock at $300 each and borrowing $180,000 from a bank on a long-term note. Last year, XYZ reported net income of $55,000 and paid a cashdividend of $2,500. Last year, the company also borrowed an additional$250,000 from the bank. What was the total assets on XYZ's balance sheetat the end of the year last year?a. $2,882,500b. $2,885,000c. $2,830,000d. None of these

Step 1: Definition of Total AssetsTotal Assets represent everything a company owns that has monetary…

Answered: XYZ Corp. was incorporated three years…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 1P

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ABC Inc. was incorporated two years ago by issuing 5,000 shares of common stock at $400 each and borrowing $240,000 from a bank on a long-term note. Last year, ABC reported net income of $40,000 and paid a cash dividend of $1,800. Last year, the company also borrowed an additional $320,000 from the bank. What was the total assets on ABC's balance sheet at the end of the year last year? a. None of these. b. $2,600,000 c. $2,558,200 d. $2,598,200
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A company issues $1.1 million of new stock and pays $201,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.51 million in a new bond issue and paid off existing bonds with a face value of $2.05 million. The company bought 501 of another company's $1,010 bonds at a $101,000 premium. The net cash flow provided by financing activities is: A) An outflow of $201,000. B) An inflow of $359,000. C) An inflow of $540,000. D) An outflow of $101,000
A company issues $1.1 million of new stock and pays $201,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.51 million in a new bond issue and paid off existing bonds with a face value of $2.05 million. The company bought 501 of another company's $1,010 bonds at a $101,000 premium. The net cash flow provided by financing activities is: A) An outflow of $201,000. B) An inflow of $359,000. C) An inflow of $540,000. D) An outflow of $101,000 G
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.
Blair Madison Company issues $2.5 million of new stock and pays $341,000 in cash dividends during the year. In addition, the company took advantage of falling interest rates to borrow $1.65 million in a new bond issue and paid off existing bonds with a face value of $2.75 million. The company bought 515 of another company's $1,150 bonds at a $115,000 premium. The net cash flow provided by financing activities is:
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What is the amount of the net new borrowing on these general accounting question?
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