Solution-Calculate the dividends if any declared during the

Calculate the dividends if any declared during the year

Reference no: EM131697885

Question 1 - The information presented here represents selected data from the December 31, 2013, balance sheets and income statements for the year then ended for three firms.

Required: Calculate the missing amounts for each firm.

Total assets, 12/31/13	$ 404,000	$ 539,000	$ 333,000
Total assets, 12/31/13	$ 404,000	$ 539,000	$ 333,000
Total liabilities, 12/31/13	219,000	132,000
Paid-in capital, 12131/13	77,000	104,000	32,000
Retained earnings, 12/31/13	108,000	303,000
Net income for 2013	84,000	88,000	116,000
Dividends declared and paid during 2013	52,000	27,000	69,000
Retained earnings, 1/1/13	76,000	242,000	34,000

Question 2 - At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $13,300 and liabilities of $5,000. During the year, liabilities decreased by $1,500. Net income for the year was $3,800, and net assets at the end of the year were $9,400. There were no changes in paid-in capital during the year.

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

Reference no: EM131697885

Questions Cloud

Prepare a statement of cash flows using the indirect method : Dividends of $5,700 were paid. No equipment was purchased or retired during the current year. Statement of Cash Flows, Indirect Method Refer to the information.

Colorado rival sand dunes of the great sahara desert : It's true - sand dunes in Colorado rival sand dunes of the Great Sahara Desert! The highest dunes at Great Sand Dunes National Monument

What proportion of the population : What proportion of the population is less than 20? (Round your answer to 4 decimal places)

The relationship between the verbal and visual elements : Explain why the ads do and do not appeal to you respectively. Discuss the relationship between the verbal and visual elements in each.

Calculate the dividends if any declared during the year : Net income for the year was $3,800, and net assets at the end of the year were $9,400. Calculate the dividends, if any, declared during the year

Chance that the alumni get a salary : What's the chance that the alumni get a salary between $35k and $55k? What is the salary range that 95% of the alumni should be belonged to?

Define income statement for piura merchandising corporation : The income statement for Piura Merchandising Corporation is as follows: Accounts payable decreased by $20,000 during the year.

How intellectual standard has helped you in your work life : Describe how that standard has helped you in your work life, in your school life, and in your personal life. Each paragraph should contain at least one example.

Sample size and standard error of the data collected : What is the sample size and standard error of the data collected? What is the probability that the sampled alumni have a mean salary of $58k or more?

User Account

All Pages

Calculate the dividends if any declared during the year

Reference no: EM131697885

Reference no: EM131697885

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT