FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- If the beginning balance of retained earnings is $180,000, revenue is $85,000, expenses total $35,000, and the company declares and pays a $20,000 dividend, what is the ending balance of retained earnings?arrow_forwardBlossom Company began the year with stockholders' equity of $107700. During the year, Blossom issued stock for $ 147800, recorded expenses of $412000, and paid dividends of $27800. If Blossom's ending stockholders' equity was $290300, what was the company revenue for the year? $594600. $446800. $ 474600. $622400.arrow_forwardIf total assets decreased by $49,820 during a period of time and stockholders' equity increased by $28,861 during the same period, then the amount and direction (increase or decrease) of the period's change in total liabilities isarrow_forward
- Cash dividends of $78,312 were declared during the year. Cash dividends payable were $12,000 and $13,834 at the beginning and end of the year, respectively. Determine the amount of cash for the payment of dividends during the year.arrow_forwardIf total liabilities decreased by $80,000 during the period and stockholders’ equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period’s change in total assets is:arrow_forwardShould $1,300 dividends be subtracted in the statement of retained earnings?arrow_forward
- At the beginning of the year, Martinez Company had total assets of $968,000 and total liabilities of $581,000. Answer the following questions. Please note that the scenarios given below are independent. (a) If total assets increased $171,000 during the year and total liabilities decreased $62,000, what is the amount of stockholders' equity at the end of the year? Stockholders' equity $arrow_forwardAt the beginning of the year, Quaker Company's liabilities equal $55,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease by $17,000 during the year. What are the beginning and ending amounts of owners' equity?arrow_forward
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