Fill in the blanksPlease don't give image format January 1,2022AssetsLiabilitiesStockholders'equityDecember 31,2022AssetsLiabilitiesStockholders'equityNovak Company$ 94,50063,00031,500119,700 (b)69,300(a)50,400Bramble Company$138,6006300075,600172,62094,50078,120(d)(e)Michelangelo Company151,20094,50056,700252,00088,200163,800(g)(h) Stockholders'equity changesin yearAdditionalinvestmentDividendsTotalrevenuesTotalexpenses12,600441,000415,800(c)18,900529,200485,100(f)12,60017,640430,920(i)

The stockholders equity refers to the the owners investment in a business. It also denoted by…

January 1, 2022 Assets Liabilities Stockholders' equity December 31, 2022 Assets Liabilities Stockholders' equity $94,500 63,000 31,500 119,700 (b) 69,300 (a) 50,400 $138,600 63000 75,600 172,620 94,500 78,120 (d) (e) 151,200 94,500 56,700 252,000 88,200 163,800 (g) (h)

January 1, 2022 Assets Liabilities Stockholders' equity December 31, 2022 Assets Liabilities Stockholders' equity $94,500 63,000 31,500 119,700 (b) 69,300 (a) 50,400 $138,600 63000 75,600 172,620 94,500 78,120 (d) (e) 151,200 94,500 56,700 252,000 88,200 163,800 (g) (h)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA2: Investments

Section: Chapter Questions

Problem 10MCQ

See similar textbooks

Similar questions

l-Itihad Corporation Balance SheetDecember 31, 2019AssetsLiability & EquityCurrent AssetsCurrent LiabilityCash$5,000Accounts payable22,000Short term securities10,000Accrual Account8,000Account Receivables30,000Short term debt6,000Inventory32,000Total Current Liability36,000Long-term debt40,000Total Current Assets77,000TotalLiability76,000Long term AssetsEquityNet Property & equipment70,000CommonStocks64,000Retained earnings17,000Total Equity81,000Total Liability and Equity157,000Other assts 10000Total Assets157,000Sur Corporation Income StatementDecember 31, 2019Other Financial information of Sur corporation December 31, 2019Net sales (revenue)$150,000· Average Number of Common shares outstanding 16,000 Shares· Market price of Common share $3.5Cost of goods sold80,000Gross profit70,000Operating expenses30,000EBIT- (Operating profit)40,000Interest expense10,000EBT- ( Earnings before taxes)30,000Income tax 10,000Net Income (net profit)20,000You have to find the following ratios…
Transaction Analysis Goal Systems, a business consulting firm, engaged in the following transactions: a. Issued common stock for $100,000 cash. b. Borrowed $60,000 from a bank. c. Purchased equipment for $42,000 cash. d. Prepaid rent on office space for 6 months in the amount of $9,000. e. Performed consulting services in exchange for $7,100 cash, f. Performed consulting services on credit in the amount of $19,250. 9. Incurred and paid wage expense of $10,200. h. Collected $13,500 of the receivable arising from Transaction f 1. Purchased supplies for $1,680 on credit. 3. Used $1,100 of the supplies purchased in Transaction i k. Paid for all of the supplies purchased in Transaction 1. Required: For each transaction described above, indicate the effects on assets, liabilities, and stockholders' equity using the format below. If an amount box does not require an entry, leave it blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND…
Print by: Tanvi Varma374275:374275: Intermediate Accounting Theory and Practice MGMT X 120B (Summer 2020) / Ch. 15 HW *Exercise 15-18 Nash Company reported the following amounts in the stockholders’ equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (96,000 shares authorized, 19,200 shares issued) 96,000 Additional paid-in capital 113,000 Retained earnings 449,000 Total $838,000 During 2020, Nash took part in the following transactions concerning stockholders’ equity. 1. Paid the annual 2019 $9 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $42 per share. Nash uses the cost method. 3. Reissued 800 treasury shares for land valued at $34,500. 4.…
NAME: SCORE: SECTION: PROFESSOR: Problem #16 Shareholders' Equity Section The shareholders' equity T-accounts of Geron Greeting Cards, Inc. for the year ended Dec. 31, 2019, are as follows: Ordinary Shares Jan. 1 Balance 3,000,000 Mar. 7 Isued 1,350,000 4,350,000 27,000 shares Dec. 31 Balance Share Premium-Ordinary Jan. 1 Balance 480,000 Mar. 7 Isued 27,000 shares 324,000 Dec. 31 Balance 804,000 Treasury Stock Aug. 7 Purchased 4,500 shares 216,000 Retained Earnings Mar. 31 Dividends 37,500 Jan. 1 Balance 5,220,000 June 30 Dividends 37,500 Dec. 31 Closing Sept. 30 Dec. 31 Dividends Dividends 37,500 (profit) Dec. 31 Balance 765,000 37,500 5,835,000 Required: Prepare the shareholders' equity section for the year ended Dec. 31, 2019.
what is the total average equity capital for a. 2020 b. 2021 c. 2022 4 5 A 1 2 Total Equity Capital 3 Common stock 6 B (² C D E 2022 2019 2020 2021 $430,159 $461,567 $465,699 $265,426 $12,250 $12,250 $12,250 $12,250 Surplus $40,150 $40,150 $40,150 $65,150 Undivided profits $377,759 $409,167 $413,299 $188,026
Problem 1 (Adapted)The shareholders’ equity of Yelan Company showed the following account balances on December 31, 2018:Share capital, P100 5,000,000Share Premium 1,000,000Retained earnings 2,000,000Revaluation surplus 800,000 Compute the book value per share on December 31, 2018.
Xyz tradingCondensed comparative balance sheet 2021 2020 2019Assets:Current assets 468,000. 345,600. 300,000Property and equipment 600,000. 560,400. 500,400Other assets(advances ). 72,000. 126,000. 150,000Total assets. 1,140,000. 1,032,000. 950,400Liabilities and stockholders’ equityLiabilitiesCurrent liabilities 134,400. 112,800. 100,00012 % long-term notes payable. 240,000. 300,000 350,000Total liabilities. 374,400. 412,800. 450,000Stockholders’ equity10% preferred stock 120,000. 120,000. 120,000Common stock 300,000 240,000 200,000Additional paid in capital 84,000. 48,000 40,000Retained earnings…
Problem 18-5 (Static) Shareholders' equity transactions; statement of shareholders' equity [LO18-6,18- 7,18-8] Listed below are the transactions that affected the shareholders' equity of Branch-Rickle Corporation during the period 2021=2023. At December 31, 2020, the corporation's accounts included: 57:28 Common stock, 105 million shares at $1 par Paid-in capital-excess of par Retained earnings sin thousands) $105,000 630,000 970,000 at nces a. November 1, 2021, the board of directors declared a cash dividend of $0.80 per share on its common shares, payable to shareholders of record November 15, to be paid December b On March 1, 2022, the board of directors declared a property dividend consisting of corporate bonds of Warner Corporation that Branch Rickie was holding as an investment. The bonds had a fair value of $1.6 million, but were purchased two years previously for $1.3 million. Because they were intended to be held to maturity, the bonds had not been previously written up. The…
PROBLEM 8:Tomas Co. has the following balance sheet as of December 31, 2021.Current assets 180,000.00Fixed assets 120,000.00Total assets 300,000.00Accounts payable 40,000.00Accrued liabilities 20,000.00Notes payable 50,000.00Other Long-term debt 75,000.00Total Equity 115,000.00Total liabilities and equity 300,000.00 In 2021, Tomas Co. reported sales of P1,500,0000, net income of P30,000, and dividends of P18,000. The company expected its sales to increase by 20% by next year and its retention ratio will remain at 40%. Assume that Tomas Co. is operating at full capacity and it uses the AFN approach in determining the amount of external financing needed.How much is the sales for 2022? Using Problem 8, how much is the increase in retained earnings for the purpose of computing the AFN? Using Problem 8, how much external funds needed for the year 2022?
QS 10-17 (Algo) Debt-to-equity ratio LO A2 Total liabilities Total equity Atlanta Company "$510, 000 570, e00 Spokane Company $ 484,500 1,529,000 Compute the debt-to-equity ratio for each of the above companies. Debt to equity ratio Choose Numerator: Choose Denominator: =Debt-to-equity ratio Atlanta Company Spokane Company
Common stock-$10 par value, 120,000 shares authorized, 50,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity During 2020, the following transactions affected its stockholders' equity accounts. January 2 Purchased 5,000 shares of its own stock at $23 cash per share. January 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record. February 28 Paid the dividend declared on January 5. July 6 Sold 1,900 of its treasury shares at $27 cash per share. August 22 Sold 3,100 of its treasury shares at $20 cash per share. September 5 Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record. October 28 Paid the dividend declared on September 5. December 31 Closed the $206,500 credit balance (from net income) in the Income Summary account to Retained Earnings. Requirement General Journal General Ledger View…
Mady Entertainment Inc. showed the following equity account balances on the December 31, 2022, balance sheet Common shares, unlimited authorized shares, 640, 000 shares issued and outstanding Retained earnings $5, 760, 000 2, 130, 000 During 2023, the following selected transactions occurred: Apr. 1 Repurchased and retired 168,000 common shares at $10.00 per share; this is the first retirement recorded by Mady. June 1 Declared a 2:1 share split to shareholders of record on June 12, distributable June 30. Dec. 1 Declared a 10% share dividend to shareholders of record on December 10, distributable December 20. The market prices of the shares on December 1, December 10, and December 20 were $ 7.00, $6.76, and $6.90, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balancs of $756, 000 in the Income Sumary account. Required: a. Journalize the transactions above (assuming the retirements were the first ever recorded by Mady Entertainment Inc). The…