Calculate the dividends declared during the year

Assignment Help Cost Accounting
Reference no: EM13548675

Calculate dividends using the accounting equation At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,400 and liabilities of $7,000. During the year, liabilities decreased by $1,200. Net income for the year was $3,000, and net assets at the end of the year were $6,000. There were no changes in paid-in capital during the year.

Required:

Calculate the dividends, if any, declared during the year.

Reference no: EM13548675

Questions Cloud

Journalize the adjusting entries on august : Journalize the adjusting entries on August 31 for the 3-month period June 1-August 31 - prepare a ledger using the three-column form of account. Enter the trial balance amounts and post the adjusting entries.
Explain what is the concentration of the f1- ion : A solution is found to be 0.0370% by weight AlF3. What is the concentration of the F1- ion expressed in ppm
The use of the internet and mobile devices : The use of the Internet and Mobile devices
Define masses of the cylinder before addition of mineral oil : A graduated cylinder is filled to the 40.00-mL mark with a mineral oil. The masses of the cylinder before and after the addition of the mineral oil are 124.966g and 159.446g, respectively. In a separate experiment, a metal ball bearing of mass 18...
Calculate the dividends declared during the year : Calculate dividends using the accounting equation At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,400 and liabilities of $7,000.
Find the roller coaster displacement from its starting point : A roller coaster moves 200 ft horizontally and then rises 135 ft at an angle of 30.0° above the horizontal. find the roller coaster's displacement from its starting point at the end of this movement
Estimate the vibrational frequency of the string : A guitar string produces 4 beats per second when sounded with a 350-Hz tuning fork and 9 beats per second when sounded with a 355-Hz tuning fork. What is the vibrational frequency of the string
Identify and analyze the adjustment to be recorded : Identify and analyze the adjustment to be recorded on December 31, 2010, Assume that Palmer's accountant forgets to record the adjustments on December 31.
What is the difference between strategic marketing : What is the difference between strategic marketing and strategic marketing management?

Reviews

Write a Review

Cost Accounting Questions & Answers

  Definition of the entities

Organize a list of pros and cons do not mean just giving a definition of the three entities. Your information offered should be structured toward their prospective business. Please make sure your responsive include the required references and rule..

  Total of the cash payments will not change

Norman is considering the purchase of some investment land from his neighbor, Robin, a high school math teacher. Robin purchased the land 10 years ago for $6,000.

  Allowance for uncollectable accounts

How do you post transaction to the following accounts: cash, accounts receivable, and allowance for uncollectable accounts?

  Approximate the current years balances

Approximate the current year's balances in the form of a balance sheet and income statement

  Calculate for each product the full cost and selling price

A business manufacturers refrigerators for domestic use. There are 3 models: Lo, Mid and Hi. The models, their quality and their price are aimed at different markets. Product costs are computed on a blanket (businesss-wide) overhead rate basis usi..

  Prepare a perpetual inventory record for classique designs

Prepare a perpetual inventory record for Classique Designs, to determine the value of ending inventory at December 31, 2013, and the total amount to be assigned to cost of goods sold for the period.

  Calculate the amount each person would pay

Calculate the amount each person would pay and calculate the amount that each person would pay based on his own consumption of the activity.

  What is the learning curve represented by the data

What is the learning curve represented by the data in the unit learning curve table - What is the correct amount to include in your budget request for this project?

  Difference in treatment of identifiable and unidentifiable

How much depreciation will be taken each year if the straight-line method of depreciation is used? Show calculations. "

  Compute the cost of goods transferred out

Compute the cost of goods transferred out and the ending inventory using the weighted-average method.

  Evaluate the ending inventory of plastic

How much ending inventory of plastic should be reported on the company's balance sheet at September 30

  What are the expected cash receipts for each month

What are the expected revenues for S2BU for each month, April through September? Revenues are recorded in the month of the occasion and what are the expected cash receipts for each month, April through July?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd