At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $11,900 and liabilities of $5,600. During the year, liabilities decreased by $900. Net income for the year was $3,100, and net assets at the end of the year were $7,100. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year.

At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $11,900 and liabilities of $5,600. During the year, liabilities decreased by $900. Net income for the year was $3,100, and net assets at the end of the year were $7,100. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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The following data (in millions) are taken from the financial statements of Target Corporation: a. For Target Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income b. What conclusions can you draw from your analysis of the revenue and the total operating expenses?
At the beginning of its current fiscal year, Willie Corporation' s balance sheet showed assets of $11, 100 and liabilities of $ 5,200. During the year, liabilities decreased by $800. Net income for the year was $2, 600, and net assets at the end of the year were $6,400. There were no changes in paid - in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect.
At the beginning of its current fiscal year, Willie Corporations balance sheet showed assets of $ 11, 100 and liabilities of $6,700. During the year, liabilities decreased by $700. Net income for the year was $2,700, and net assets at the end of the year were $4,700. There were no changes in paid - in capital during the year. Required:Calculate the dividends, if any, declared during the year. Indicate the financial statement effect.Note: Enter decreases with a minus sign to indicate a negative financial statement effect.\table[[, Assets, =, Liabilities,+, Stockholders' Equity], [, PIC,\table [[ + ], [ + ]], RE], [Beginning:,, 11, 100, , $, 6, 700, +, S, 0], [Changes: ,,,,, (700), +,, 0, +,], [Changes:], [Ending:,,, | =,,, | +,, 0, +,]] = Beginning: Changes: Changes: Ending: Assets = Liabilities + $ 11,100 = $ 6,700 + (700) + || 3 || Stockholders' Equity RE $ PIC 0 + 0 + 0 +
At the beginning of its current fiscal year, Willie Corporation's balance sheet showed assets of $12,400 and liabilities of $6,400. During the year, liabilities decreased by $1,400. Net income for the year was $3,050, and net assets at the end of the year were $6,650. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Stockholders' Equity Assets Liabilities + PIC RE Beginning: Changes: $ 12,400 = $ (750) = 6,400 + (1,400) + $ 0+ $ 6,000 0+ Changes: Ending: $ 11,650 = $ 5,000 + 0+ EA $ 3,050 +Net income (2,400) Dividends 6,650
At the beginning of its current fiscal year, Willie Corp's balance sheet showed assets of $14,600 and liabilities of $5,400. During the year, liabilities decreased by $1,000. Net income for the year was $3.100, and net assets at the end of the year were $9,900. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Stockholders' Equity Assets = Liabilities PIC RE Beginning: $ 14,600 $ 5,400 Changes: (1,000) + Ending:
Calculate dividends, if any, declared during the year from the given information: Wallace Corp balance sheet showed assets of P12,600 and liabilities of P6,300 at the beginning of its current fiscal year. During the year, liabilities decreased by P1,300. Net income for the year was P3,100, and net assets at the end of the year were P7,100. There were no changes in paid-in capital during the year.
Goldfinger Corporation had account balances at the end of the currentyear as follows: sales revenue, $29,000; cost of goods sold, $12,000;operating expenses, $6,200; and income tax expense, $4,320. Assumeshareholders owned 4,000 shares of Gold finger's common stock duringthe year. Prepare Goldfinger's income statement for the current year.
Golden Corporation declared and paid $4,600 of cash dividends during the current year ended December 31. Its financial statements also reported the following summarized data: Required: 1. Complete the horizontal analyses for each item in Golden Corporation's comparative financial statements. TIP: Calculate the increase (decrease) by subtracting the previous year from the current year. Calculate the percentage by dividing the amount of increase (decrease) by the previous-year balance. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) 2-a. Use the horizontal (trend) analyses to identify the accounts where a large percentage change is accompanied by a small dollar change. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 2-b. Use the horizontal (trend) analyses to identify the accounts…
. The following are the amounts of Care Corporation’s assets and liabilities at May 31, 2010 and its revenue and expenses for the year ended on that date, listed in alphabetical order. Care Corporation had share capital of P50,000 and accumulated profits of P87,390 on June 1, the beginning of the fiscal year. During the year, the corporation paid cash dividends of P25,000. Accounts payable P 48,320 Accounts receivable 68,840 Advertising expense 14,600 Cash 40,150 Insurance expense 12,000 Land 150,000 Miscellaneous expense 3,140 Notes payable 22,000 Prepaid insurance 2,000 Rent…
Cain Corp. reported accrued investment interest receivable of 38,000 and 46,500 at January 1 and December 31, year 1, respectively. During year 1, cash collections from the investments included the following: Capital gains distributions= 145,000; Interest= 152,000. What amount should Cain Corp report as interest revenue from investments for year 1? *
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?
Selected current year-end financial statements of Genesis Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total assets, $189,400; common stock, $90,000; and retained earnings, $33,748. Compute the following: total asset turnover, return on total assets, and return on equity. Round to one decimal place.