Beginning Balance Ending Balance Assets $ 131,000 334,000 579,000 786,000 401,000 255,000 $ 2,486,000 $ 126,000 480,000 483,000 781,000 435,000 251,000 $ 2,556,000 Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $ 381,000 1,020,000 1,085,000 $ 2,486,000 $ 347,000 1,020,000 1,189,000 $ 2,556,000 Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement $ 4,255,000 3,489,100 765,900 Sales Operating expenses Net operating income Interest and taxes: Interest expense Тах еxpense $ 116,000 199,000 315,000 $ 450,900 Net income The company paid dividends of $346,900 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%.
Beginning Balance Ending Balance Assets $ 131,000 334,000 579,000 786,000 401,000 255,000 $ 2,486,000 $ 126,000 480,000 483,000 781,000 435,000 251,000 $ 2,556,000 Cash Accounts receivable Inventory Plant and equipment, net Investment in Buisson, S.A. Land (undeveloped) Total assets Liabilities and Stockholders' Equity Accounts payable Long-term debt Stockholders' equity $ 381,000 1,020,000 1,085,000 $ 2,486,000 $ 347,000 1,020,000 1,189,000 $ 2,556,000 Total liabilities and stockholders' equity Joel de Paris, Incorporated Income Statement $ 4,255,000 3,489,100 765,900 Sales Operating expenses Net operating income Interest and taxes: Interest expense Тах еxpense $ 116,000 199,000 315,000 $ 450,900 Net income The company paid dividends of $346,900 last year. The "Investment in Buisson, S.A.," on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return of 15%.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
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