-Yellow Enterprises reported the following (5 in thousands) as of December 31, 2024. All accounts have normal balances.Deficit (debit balance in retained earnings)Common stockPaid-in capital-share repurchaseTreasury stock (at cost)Paid-in capital-excess of parDuring 2025 ($ in thousands), net income was $9,000, 25% of the treasury stock was resold for $450, cash dividends declared were $600, cash dividends paid were $500What (5 in thousands) was shareholders' equity as of December 31, 2024?Multiple Choice$28,600$35.600$30,400$ 3,0002,0001,00040030,000

Stockholder's Equity is a part of balance sheet. Under the section of Liabilities and Stockholder's…

Answered: Yellow Enterprises reported the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

The following amounts were taken from the financial statements of Concord Corporation: 2017 2016 Total assets $818000 $1020000 Net sales 726000 655000 Gross profit 376000 332000 Net income 118000 130000 Weighted average number of 90200 80000 common shares outstanding Market price of common stock $42 $36 The return on assets for 2017 is 12%. 13%. 14%. 6%.
Groom Company began operations on January 1, 2021 with P 1,000,000 from the issuance of shares and borrowed funds of P 450,000. Net income for 2021 was P 300,000 and Groom paid a P 225,000 cash dividend on December 19, 2011. No additional transactions affected owners’ equity in 2021. At December 31, 2021, liabilities of the company had increased to P 597,000. In Groom’s December 31, 2021 balance sheet, how much should be reported as its total assets? a. P 1,525,000 b. P 1,672,000c. P 1,750,000d. P 1,760,000 show your solution
The following data were taken from the balance sheet accounts of Wildhorse Corporation on December 31, 2024. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings a. b. C. $513,000 605,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) 501,000 Date 144,000 910,000 A 6% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $40. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds have a book value of $104,000 and a fair…
Skysong, Inc. issued 16400 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $39000 and issued long-term notes payable of $361000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows?
Snow Cleaners, Inc., had net income of $493,600 for its year ended December 31, 2018. During the year, the company had outstanding 64,000 shares of Preferred Stock at 12% with a $40 par value, and 37,280 shares of common stock with a par value of $10. Calculate the earnings per share of common stock for the year ended December 31, 2018.
Alpesh
What would be the classified Balance Sheet for Sandpiper as of December 31, 2020? After calculations, does the ASSETS sheet and Liabilities and Stockholders' Equity balance? Accounts Payable $34,600 Accounts Receivable $35,100 Accrued Liabilities $11,500 Accumulated Depreciation $35,600 Allowance for Doubtful Accounts $900 Bonds Payable[Long-term] $80,000 Cash and Cash Equivalents $33,600 Common Stock at par $1.50 (authorized 200,000 shares, issued xxxxx? shares, and XXXX? outstanding)-CALCULATE $75,000 Cost of goods sold $204,800 Current Portion of Long-Term Debt $5,600 Discounts on Bonds Payable $2,300 Equipment and vehicles $89,100 General and administrative expenses $92,100 Intangilbles - Net $14,300 Investments in Equity Securities[long-term] $5,000 Land[not used in operations] $25,600 Land and Building $145,300 Long-Term Debt Payable [not including current portion] $40,200 Merchandise Inventory (FIFO, Lower of Cost or Market) $28,700 Notes Payable[short-term] $6,500 Notes…
Calculate the P/R for (WMT) as of November 14, 2017, when the company's stock price closed at $91.09.2 The company's profit for the fiscal year ending January 31, 2017, was US$13.64 billion, and its number of shares outstanding was 3.1 billion.
Lerner Company had the following transactions in 2017, its first year of operations: Issued 20,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $14.00 per share Issued 1,000 shares of $100 par value preferred stock. Shares were issued at par Earned Net Income of $35,000 Paid no dividends. At the end of 2017, what is the total amount of stockholders' equity? (Remember that we have TWO Stockholder's Equity accounts) A $ 260,000.00 B $ 415,000.00 C $ 380,000.00 D $ 120,000.00
Subject - account Please help me. Thankyou.
The December 31, 2013, balance sheet of Schism, Inc., showed long-term debt of $1,400,000, $140,000 in the common stock account and $2,650,000 in the additional paid-in surplus account. The December 31, 2014, balance sheet showed long-term debt of $1,580,000, $150,000 in the common stock account and $2,950,000 in the additional paid-in surplus account. The 2014 income statement showed an interest expense of $94,000 and the company paid out $145,000 in cash dividends during 2014. The firm's net capital spending for 2014 was $960,000, and the firm reduced its net working capital investment by $125,000. What was the firm's operating cash flow during 2014?
TAARE ZAMEENPAR Company reported the following changes in the account balances for the current year, December 31, 2021: Increase (decrease) Cash 1,500,000 Accounts receivable, net 500,000 Inventory 2,000,000 Prepaid expenses (100,000) Land 5,000,000 Accounts payable (1,100,000) Bonds payable Share capital 4,000,000 4,000,000 Share premium 1,000,000 Dividends of P1,500,000 was paid during the year and that no other transactions affected the retained earnings. What is the net income for the period.

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS