$2,000 Miscellaneous Expense 10,340 Office expense 21,420 Supplies 73,390 Wages expense 47,000 Dividends 157,630 ockholders' equity for the current year es not require an entry, leave it blank Computer Services Stockholders' Equity ar Ended March 31

Feb 25 Declared a 2.50 per share cash dividend on 20,000 shares of common stock outstanding Mar. 20 Paid the cash dividends declared on Feb. 25, Dec. 31 Closed the 72,000 credit balance in Income Summary that reflects net income to Retained Earnings (a) Prepare the journal entries for these transactions. (b) If Retained Earnings had a 155,000 credit balance on January 1, calculate its year-end balance as of December 31

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PURRFECT PETS, INC. Balance Sheet at June 30, Year 1 Assets       Liabilities       Cash $ 732,700   Accounts Payable $ 349,100   Accounts Receivable   419,300   Notes Payable due June 30, Year 3   268,900   Supplies   58,410   Total Liabilities   618,000   Equipment   118,600           Other Assets   69,410   Stockholders' Equity               Common Stock   662,000           Retained Earnings   118,420           Total Stockholders' Equity   780,420   Total Assets $ 1,398,420   Total Liabilities & Stockholders’ Equity $ 1,398,420     How much financing did the stockholders of Purrfect Pets, Inc., directly contribute to the company?

Ratio of Liabilities to Stockholders' Equity and Times Interest Earned The following data were taken from the financial statements of Hunter Inc. for December 31 of two recent years: Current Year Prior Year Accounts payable $618,000 $300,000 Current maturities of serial bonds payable 550,000 550,000 Serial bonds payable, 10% 2,480,000 3,030,000 Common stock, $1 par value 90,000 120,000 Paid-in capital in excess of par 1,000,000 1,010,000 Retained earnings 3,470,000 2,750,000 The income before income tax expense was $757,500 and $662,800 for the current and prior years, respectively. a. Determine the ratio of liabilities to stockholders' equity at the end of each year. Round to one decimal place. Current year fill in the blank 1 Prior year fill in the blank 2 b. Determine the times interest earned ratio for both years. Round to one decimal place. Current year fill in the blank 3 Prior year fill in the blank 4 c. The ratio of liabilities to stockholders' equity have improved and the…

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