30. Yellow Enterprises reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances. Deficit (debit balance in retained earnings) Common stock Paid-in capital-share repurchase Treasury stock (at cost) Paid-in capital-excess of par $ 3,000 2,000 1,000 400 30,000 During 2022 ($ in thousands), net income was $9,000; 25% of the treasury stock was resold for $450; cash dividends declared were $600; cash dividends paid were $500. What (S in thousands) was shareholders' equity as of December 31, 2021?

30. Yellow Enterprises reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances. Deficit (debit balance in retained earnings) Common stock Paid-in capital-share repurchase Treasury stock (at cost) Paid-in capital-excess of par $ 3,000 2,000 1,000 400 30,000 During 2022 ($ in thousands), net income was $9,000; 25% of the treasury stock was resold for $450; cash dividends declared were $600; cash dividends paid were $500. What (S in thousands) was shareholders' equity as of December 31, 2021?

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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has the following balance sheet (December 31, 2023). The figures are in $ million. Cash Short-term investments Accounts receivable Inventory Current assets Gross fixed assets Accumulated deprec. Net fixed assets $40 30 30 70 170 250 50 200 Total assets Accounts payable Accruals Notes payable $370 Current liabilities Long-term debt Common stock (par value=$1) Retained earnings Total common equity Total liab. & equity Note that only 50% of "cash" (shown in the balance sheet above) is used in operation. $30 50 10 90 70 30 180 210 Use the above information to answer questions 8 8. What is its total operating capital for 2023? $240 m $370
Help Save & Yellow Enterprises reported the following ($ in thousands) as of December 31, 2021. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 1,600 3,000 1,000 Common stock Paid-in capital-share repurchase Treasury stock (at cost) Paid-in capital-excess of par 350 30,500 During 2022 ($ in thousands), net income was $10,000; 25% of the treasury stock was resold for $530; cash dividends declared were $750, cash dividends paid were $4 What ($ in thousands) was shareholders' equity as of Deasember 31, 2021?
Yellow Enterprises reported the following ($ in thousands) as of December 31, 2024. All accounts have normal balances. Deficit (debit balance in retained earnings) $ 2,300 Common stock 3,800 Paid-in capital—share repurchase 1,800 Treasury stock (at cost) 300 Paid-in capital—excess of par 31,100 During 2025 ($ in thousands), net income was $9,700; 25% of the treasury stock was resold for $600; cash dividends declared were $630; cash dividends paid were $460. What ($ in thousands) was shareholders' equity as of December 31, 2025?
Selected balance sheet accounts for Tibbetts Company on September 30, 2019. are as follows: Cash Marketable securities Accounts receivable, net Inventory Prepaid expenses $ 48,000 87,000 129,000 135, 000 21,000 Total current assetS $420,000 Accounts payable Other accrued liabilities $147,000 33,000 60,000 Short-term debt Total current liabilities $240,000 Required: a. Calculate the working capital, current ratio, and acid-test ratio for Tibbetts Company as of September 30. 2019 b. Summarized here are the transactions/events that took place during the fiscal year ended September 30, 2020. Prepare Journal entries for the below transactions and Indicate the effect of each item on Tibbetts Company's working capital, current ratio, and acid-test ratio. Use + for Increase, - for decrease, and (NE) for no effect. 1. Credit sales for the year amounted to $360,000. The cost of goods sold was $234.000 2 Collected accounts recelvable, $378,000. 3. Purchased inventory on account, $252,000. 4.…
-Yellow Enterprises reported the following (5 in thousands) as of December 31, 2024. All accounts have normal balances. Deficit (debit balance in retained earnings) Common stock Paid-in capital-share repurchase Treasury stock (at cost) Paid-in capital-excess of par During 2025 ($ in thousands), net income was $9,000, 25% of the treasury stock was resold for $450, cash dividends declared were $600, cash dividends paid were $500 What (5 in thousands) was shareholders' equity as of December 31, 2024? Multiple Choice $28,600 $35.600 $30,400 $ 3,000 2,000 1,000 400 30,000
LOCKDOWN Corp. has the ending balances as December 31, 2020: Cash - 110,000 Fixed Assets - 155, 000; Current Liabilities - 124,000. Long Term Liabilities - 56, 670, Common Stock - 26,000, Retained Earnings - 58,330. Assume that the cost of debt is 10%, cost of common stock 13.50%, cost of retained earnings 12%. What is the cost of debt marginal weight? 68.18 50.20 60.89 Compute for the market value of the following securities: Debt - 10,000 @ 1150 Preferred stock - 55,000 @ 65 Common Stock 78,500 @ 65. The common stock compose of 30% retained earnings 18, 246,750 18, 246,000 18, 224, 750
The changes in account balances for Allen Inc. for 2021 are as follows: Assets 260,000 debit Common stock 160,000 credit Liabilities 66,000 credit Paid-in capital-excess of par 22,000 credit Assuming the only changes in retained earnings in 2021 were for net income and a $39,000 dividend, what was net income for 2021? Multiple Choice • S27,000. • $22,000. • 551,000. • $12,000. %24
GM has the following balances at Dec31,2021: Operating Assets $ 1,200,000 Financial Assets 800,000 Operating Liabilities 200,000 Financial liabilities 1,400,000 Operating Income 200,000 Tax Rate % 40 Net Income 110,000 Preferred Stock dividends 10,000 Required: Calculate the following (use 2021 ending balances only): Return on Net Operating Assets – RNOA Return on Common Equity – ROCE Justify and analyze your findings in required (1)
The following is the excerpt of financial information of Dreamies Corporation on December 31, 2022: Account Amount Gross profit P5,000,000.00 Operating Expense 120,000.00 Other expense 300,000.00 Income Tax expense 50,000.00 Current Assets 450,000.00 Non-current assets 7,000,000.00 Total Liabilities 750,000.00 What percent is Dreamies Corporation's return on equity on December 31, 2022? (A) cannot be determined B) 60.8% 64.71% D) 67.61%
Tamarisk Co. reports the following information for 2020: sales revenue $769,400, cost of goods sold $502,400, operating expenses $88,400, and an unrealized holding loss on available-for-sale debt securities for 2020 of $57,800. It declared and paid a cash dividend of $14,160 in 2020. Tamarisk Co. has January 1, 2020, balances in common stock $365,300; accumulated other comprehensive income $90,400; and retained earnings $91,010. It issued no stock during 2020. (Ignore income taxes.) Prepare a statement of stockholders' equity. TAMARISK CO. Statement of Stockholders' Equity For the Year Ended December 31, 2020 Accumulated Other Total Retained Earnings Comprehensive Income Common Stock
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What is the total shareholders equity?
1. PGold Company provided the following trial balance on December 2020: Total credits amounting to P3,000,000 as follows; Bank overdraft P100,000, Accounts Payable P200,000, Accrued expenses P150,000, Ordinary share capital P1,500,000, Share premium P250,000, Retained earnings P800,000. Total debits of P3,000,000 composed the following; Accounts receivable P350,000, Inventory P600,000, Prepaid expenses P100,000, Land held for sale P1,000,000, Property, plant & equipment P950,000. Additional information: Checks amounting to 300,000 were written to vendors and recorded on December 29, 2020 resulting in a cash overdraft of P100,000. The checks were mailed on January 15, 2021. Land held for resale was sold for cash on January 31, 2021. The entity issued the financial statements on March 31, 2021. What total amount should be reported as as current assets?