Henderson Company had beginning-of-the-year total assets of $360,000 and total liabilities of $216,000.If during the year total liabilities increased by $48,000 and total stockholders’ equity increased by $42,000, what are the end-of-year total assets?

Henderson Company had beginning-of-the-year total assets of $360,000 and total liabilities of $216,000.If during the year total liabilities increased by $48,000 and total stockholders’ equity increased by $42,000, what are the end-of-year total assets?

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 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

See similar textbooks

Related questions

Q: If total assets increased by $500,000 during a period and total liabilities increased by $420,000…

A: The higher increase in total assets against the total liabilities implies that business is…

Q: At the beginning of the year, Suzanne Company had total assets of $1,200,000 and total stockholders'…

A: Beginning liabilities=Assets-Equity=$1,200,000-$460,000=$740,000

Q: In its recent income statement, Smith Software Inc. reported $28 million of net income, and in its…

A: Net income refers to the portion of revenue left after deducting all the expenses from the revenue.…

Q: If during the year total liabilities increased by $60,000 and total stockholders equity increased by…

A: Accounting equation represents the relationship between the firms assets, its liabilities and equity…

Q: At the beginning of the year, Addison's company assets are $218,000 and its equity is $163,500.…

A: At the beginning of the year, Assets = $ 218,000 Equity = $ 163,500 We know the Accounting Equation…

Q: If Brown Company’s total assets increased by $28,000 during the year, and its total liabilities…

A: The Accounting equation is as under:Assets (Total) = Liabilities + Stockholder's equityWhen…

Q: The balance of retained earnings of Dragon Corporation at the beginning of the year was P650,000.…

A: The retained earnings are the net income of the business to be available for shareholders.

Q: At the beginning of the year, Quaker Company’s liabilities equal $70,000. During the year, assets…

A: Assets: These are the resources owned and controlled by business and used to produce benefits for…

Q: At the end of an accounting period, a company's total assets equaled $585,000, and liabilities…

A: An accounting equation refers to a mathematical representation of an accounting transaction. It…

Q: At the end of an accounting period, a company's liabilities equaled $295,000, and owner's equity…

A: An accounting equation refers to a mathematical representation of the transaction. It indicates that…

Q: At the end of the period, Sanders Company reports the following amounts: Assets = $12,000;…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: Krammer Company has liabilities equal to one fourth of the total assets. Krammer's stockholders'…

A: Accounting Equation: Accounting equation is the mathematical representation of the relationship…

Q: ith assets of $103,000 and liabilities of $76,500 During the year assets increased by $12,600 and…

A: The worth of a company's assets after all liabilities have been paid is known as stockholders'…

Q: The balance sheets of HR, Inc. reports total stockholders' equity of $500,000 and $650,000 at the…

A: Return on equity is the ratio which shows the earning capacity of the equity shareholders’ funds and…

Q: At the beginning of the year, Keller Company's liabilities equal $60,000. During the year, assets…

A: Closing assets =$180000Assets increase during the year =$80000Opening Assets…

Q: Giga company had the following account balances at the end of its fiscal year. What is its net…

A: Net income of the business can be computed with the help of total sales or receipts where it was…

Q: Stosch Company's balance sheet reported assets of $132,000, liabilities of $33,000 and common stock…

A: Formula: Ending Retained earnings balance = Beginning retained balance + Net Income - dividends…

Q: Renee and Lily Inc. began the year with total stockholders' equity of $90,000 and total assets of…

A: Opening equity = $90,000 Opening total assets = $210,000 Opening liabilities = Assets-Liabilities…

Q: At the beginning of the year the company's assets totaled $680 and its liabilities totaled $470.…

A: Total assets = Total liabilities + Total stockholders' equity. Total stockholders' equity. = Total…

Q: On January 1, Payson Inc. had a retained earnings balance of $20,000. During the year, Payson…

A: Ending Retained earnings balance = Beginning Retained earnings balance + Net Income - Dividend paid

Q: A company reports the following in its balance sheet:Total assets of $800,000 and total liabilities…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: ty at the end of the ye. (b) At the beginning of the year, Turpin Industries had liabilities of…

A: Formula: Accounting equation: Assets = Liabilities + shareholders equity. Sum of liabilities and…

Q: At the beginning of the year, the assets of Tubo Services were P720,000 and it’s owner’s equity was…

A: Stockholders’ equity: It refers to the residual amount of assets that are available to the company’s…

Q: At the end of last year, ArtisanCo's assets totaled $877,000 and its liabilities totaled $748,500.…

A: Ending total assets = Beginning total assets + increase in total assets = $877,000 + $59,700 =…

Q: On January 1, Bonita Corporation's Total Assets were $1,350,000, and Total Liabilities were…

A: Calculate dividends paid during the year.

Q: At the beginning of the year, Addison Company’s assets are $300,000 and its equity is $100,000.…

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by…

Q: At the beginning of the year, Addison Company's assets are $256,000 and its equity is $192,000.…

A: Equity represents the amount of capital owned by the shareholders of the company. It is basically,…

Q: At the beginning of the year, Addison Company's assets are $234,000 and its equity is $175,500.…

A: Answer a) Calculation of Ending Balance of Equity Ending Balance of Equity = Ending balance of…

Q: At the beginning of the year, Grouper Company had total assets of $794,000 and total liabilities of…

A: Stockholders Equity is the total amount attributable to the shareholders of the company. This is…

Q: At the beginning of the year, Canon Company had total assets of $870,000 and total liabilities of…

A: Total assets = Total liabilities + stock holders equity

Q: At the beginning of the year, Quasar Company's liabilities equal $57,000. During the year, assets…

Q: During the year, ChemClean Corporation has $280,000 in revenues, $130,000 in expenses,and $10,000 in…

A: Definition: Net income: The bottom line of an income statement which is the result of excess…

Q: A company had a beginning balance in retained earnings of $430,000. It had net income of $65,000 and…

A: The retained earnings are the amount of net income left after paying the dividends to the…

Q: Chou Company has a net income of $52,000, assets at the beginning of the year are $259,000 and…

A: Return on assets indicates profitability rate on the bases of assets. It can be calculated by…

Q: At the end of the year, total assets and total liabilities were P 40,000 and P 10,000, respectively.…

A: Assets = Liabilities + Equity

Q: Farmington Corporation began the year with a retained earnings balance of $15,000. The company paid…

A: The numerical has covered the concept of Retained Earnings. Retained Earnings is an abbreviation of…

Q: Powell Company began the Year 2 accounting period with $19,000 cash, $60,700 inventory, $48,400…

A: Journal Entries Sr.No. Particulars Debit Credit…

Q: At the beginning of the year, Gonzales Company SLU had total assets of €870,000 and total…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: Farmington Corporation began the year with a retained earnings balance of $20,000. The company paid…

A: Introduction: Retained Earnings: Retained Earnings are share holders funds. Part of profit is…

Q: At the beginning of the year, Morgan Company had total assets of $425,000 and total liabilitiesof…

A: The accounting equation depicts the interaction of assets, liabilities, and capital. It serves as…

Q: Walter Mart has net assets of P3,358,000 after liabilities of P1,267,000 at the end of the year.…

A: Solution: Walter mart's equity at year end = Total assets - Total liabilities

Q: Waterway Industries started the year with total assets of $225000 and total liabilities of $135000.…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: maynard enterprise paid $1,720 in dividends and $1,655 in interest over the past year. the common…

A: Dividend per share refers to the amount of the net income which is paid to the equity shareholders.…

Q: The balance sheets of HR, Inc. reports total stockholders' equity of $550,000 and $750,000 at the…

A: Return on Equity = Net incomeTotal stockholders' equity

Q: Jensen Company had beginning Retained Earnings of $180,000 and Common Stock of $42,000. Jensen…

A: Ending retained earnings = Beginning retained earnings + Revenue - expenses - Dividend paid

Question

Henderson Company had beginning-of-the-year total assets of $360,000 and total liabilities of $216,000.

If during the year total liabilities increased by $48,000 and total stockholders’ equity increased by $42,000, what are the end-of-year total assets?

Definition Definition Assets available to stockholders after a company's liabilities are paid off. Stockholders’ equity is also sometimes referred to as owner's equity. A stockholders’ equity or book value generally includes common stock, preferred stock, and retained earnings and is an indicator of a company's financial strength.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Required: 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.
Assuming that total assets were $8,037,000 at the beginning of the current fiscal year, determine the following: When required, round to one decimal place. a. Ratio of fixed assets to long-term liabilities b. Ratio of liabilities to stockholders' equity c. Asset turnover d. Return on total assets e. Return on stockholders' equity f. Return on common stockholders' equity % % %
Henderson Company had beginning-of-the-year total assets of $360,000 and total liabilities of $216,000.a. If during the year total assets increased by $18,000 and total liabilities increased by $48,000, what is the end-of-year total stockholders’ equity?$Answer114,000b. If during the year total assets increased by $72,000 and total liabilities decreased by $6,000, what is the end-of-year total stockholders’ equity?$Answer222,000c. If during the year total liabilities increased by $48,000 and total stockholders’ equity increased by $42,000, what are the end-of-year total assets?
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $38,000; Liabilities = ?; Common Stock = $6,800; Revenue = $14,600; Dividends = $1,650; Beginning Retained Earnings = $4,650; Ending Retained Earnings = $8,800.
The year-end financial statements of Calloway Company contained the following elements and corresponding amounts: Assets = $36,000; Liabilities = ?; Common Stock = $6,600; Revenue = $14,200; Dividends = $1,550; Beginning Retained Earnings = $4,550; Ending Retained Earnings = $8,600.The amount of liabilities reported on the end-of-period balance sheet was: a. $29,400 b. $27,400 c. $24,850. d. $20,800.
Delta Company reports the following year-end balance sheet data. The company's acid-test ratio equals: Cash $ 53,000 Current liabilities $ 88,000 Accounts receivable 68,000 Long-term liabilities 30,000 Inventory 73,000 Common stock 113,000 Equipment 158,000 Retained earnings 121,000 Total assets $ 352,000 Total liabilities and equity $ 352,000
The total assets of Gs Co. is funded by both debt and equity with a debt to equity ratio of 100%. If Gs Co. has a retained earnings breakpoint of P1,225,000, the additions to the retained earnings during the year amounts to
Benson Company’s net income was $225,000 for Year 1, $243,750 for Year 2, and $293,160 for Year 3. Assume trend percentages for net income over the three-year period are computed, with Year 1 serving as the base year.The trend percentage for Year 3’s net income is: Select one: A. 117.30% B. 86.36% C. 120.92% D. 130.29%
Some selected financial statement items belonging to PXR Company are given in the table below. According to this information, which of the following is Return on Assets (ROA) in 2021? Receivables 18,500 Total Assets 120,000 Current Liabilities 42,000 Shareholders' Equity 85,00 Net Profit 18,000
A corporation reports the following year-end balance sheet data. The company's debt ratio equals: Cash Accounts receivable Inventory Equipment Total assets $ 41,000 56,000 61,000 146,000 $ 304,000 Current liabilities Long-term liabilities Common stock Retained earnings Total liabilities and equity $ 76,000 31,000 101,000 96,000 $ 304,000