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Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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On 12/31/2020, Heaton Industries Inc. reported
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- Provo Company started 2020 with liabilities of $32,000 and retained earnings of $14,000. Provo had gone into business in 2011 when it issued 100 shares of stock for a total of $40,000. No more stock has been issued since that time. Assets increased on December 31, 2020 by $12,000 and the company earned net income during 2020 of $12,000 and paid no dividends. How much were liabilities at the end of 2020? $32,000 $18,000 $34,000 $56,000 O None of the abovearrow_forwardThe balance in retained earnings on January 1, 2010, for Plaza Inc., was $575,000. During the year, the corporation paid cash dividends of $60,000 and distributed a stock dividend of $15,000. In addition, the company determined that it had overstated its depreciation expense in prior years by $40,000. Net income for 2018 was $110,000. Prepare the retained earnings statement for 2018.arrow_forwardThe retained earnings of Volga plc at 1 March 2020 were £450,550. The retained earnings at 28 Febuary 2021 were £875,000. The pofit for the year is £581,450. What was the total dividend paid by Volga plc during the year?arrow_forward
- Tamarisk Corporation's adjusted trial balance contained the following accounts at December 31, 2020: Retained Earnings $126,000, Common Stock $765,600, Bonds Payable $109,700, Paid-in Capital in Excess of Par-Common Stock $208,700, Goodwill $59,300, Accumulated Other Comprehensive Loss $154,700, and Noncontrolling Interest $34,200. Prepare the stockholders' equity section of the balance sheet.arrow_forwardGrant Inc. reported retained earnings of $287,000 on its balance sheet on 12/31/2020, and it had $66,000 of net income during the year. The year before, on 12/31/2019, the company had reported $238,000 of retained earnings. No shares were issued or repurchased during 2020. How much dividends did the firm pay in 2020?arrow_forwardBonita inc. reported net income of $239000 during 2020 and paid dividends of $27000 on common stock . It also has 10000 shares of 5%, $100 par value preerred stock outstanding. Common stockholders equity was $1180000 on January 1 2020, and $1520000 on December 31 2020. The company return on common stockholders equity for 2020 isarrow_forward
- At the beginning of the year, ABC Company had a retained earnings balance of $100,000. During the year, the company discovered that cost of goods sold was understated by $20,000 in 2018. Net income for 2020 is $40,000, the company declared $10,000 in cash dividends to common shareholders and declared a 10% stock dividend when the market price of the stock was $20. The par value of the stock is $5 a share. Assume that there are 50,000 shares of common stock outstanding all year. The company recognized an unrealized loss on available-for-sale securities. Determine the ending balance of retained earnings at December 31, 2020.arrow_forwardDietrich Corp. disclosed the following information for 2021. The firm issued $65,000 new equity and $4,790 in dividends. The firm acquired $23,186 in new fixed assets and sold $17,600 of old fixed assets. Net working capital increased by $2,470 during the year. Dietrich Corp. had sales revenue of $264,596, cost of goods sold of $63,864, selling expenses of $53,200, depreciation of $6,780, and tax rate is 20%. a) What is the cash flow from assets of Dietrich Corp. in 2021? b) What is the cash flow to creditors of Dietrich Corp. in 2021? without excelarrow_forwardDuring 2018 Bajery paid out $33,525 of common dividends. In ended the year with $187,500 of retained earning versus the prior's retained earnings of $159600. How much net income did the firm earn during the year?arrow_forward
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