Calculate the profit of a company for a year

Assignment Help Financial Accounting
Reference no: EM132855033

Question - Calculate the profit of a company for a year given that:

- assets went up by $33 400 (part of this increase was the result of land being re-valued upwards by $20 000)

- liabilities went down by $15 700

- shareholders contributed $5 000 in new capital

- dividends distributed to shareholders amounted to $7 500 (these dividends were declared and paid in the current year)

- debt of $12 000 was reduced by an exchange for an equivalent amount of ownership capital.

Reference no: EM132855033

Questions Cloud

What Al Ghamdi gain by advocacy of early implementation : What, if any, is the ethical issue involved in this case? What does Al Ghamdi have to gain by advocacy of early implementation
Find the probability that a person in china : According to the WHO MONICA Project the mean blood pressure for people in China is 128 mmHg with a standard deviation of 23 mmHg
What will be the market price per share after the dividend : The firm just announced a small stock dividend of 15 percent. What will be the market price per share after the dividend
Find the requested mean or standard deviation : What is the standard deviation of the resulting distribution of sample means for n = 9?
Calculate the profit of a company for a year : Calculate the profit of a company for a year given that: dividends distributed to shareholders amounted to $7 500 and liabilities went down by $15 700
What is the minimal sample size needed : What is the minimal sample size needed for a 95% confidence interval to have a maximal margin of error of 0.1 in the following scenarios?
Develop the logistic regression model : Develop the logistic regression model containing all factors that analysts were looking at. This will serve as the model on which firm can be based to automate
Journalize the entries to correct the errors : Dividends of $21,000 were recorded as a debit to Wages Expense and a credit to Cash. Journalize the entries to correct the errors
What is the corresponding z-scoe for the 30th percentile : What is the corresponding z-scoe for the 30th percentile score on a standardized test (i.e., the scores on the test have been standardized)?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Concept and detailed design of a kit

The concept and detailed design of a kit for each car is estimated to take 30 hours of the owner's time (his current salary is $2,300 per fortnight).

  How do prepare general journal entry to record depreciation

Prepare a general journal entry to record depreciation on the machine for the five months in 2022. Use the straight-line depreciation method.

  On 1st may 2013 green corporation issues 1000000 of 12

on 1st may 2013 green corporation issues 1000000 of 12 bonds dated 1st january 2013 for 975000 plus accrued interest.

  Preparation of bad debt account

Preparation of Bad debt Account and their Adjustment - What's the total f account in bad debts expense and What's the amount of the adjuster

  What is the materials cost of the work in process

Plemmon Company adds materials at the beginning of the process in the forming department, which is the first two stages of its production cycle. Information concerning the materials used in the forming department as April follows: Using the average c..

  Operating activiteis section of statement of cash flows

How will the change in inventory be reported in the operating activiteis section of the statement of cash flows? Myers Inc. uses the indirect method to prepare the statement of cash flows. The following amounts are shown in its Dec. 31,2013 financial..

  Illustrate what is the company total tax liability

Illustrate what is the company's total tax liability to both jurisdictions for each of the two alternative transfer pricing scenarios?

  Determine cost of trade credit

Determine Cost of Trade Credit. What are the nominal and effective costs of trade credit under the credit terms of 4/20, net 40? Assume a 365-day year.

  Explain the concept of a nominal anchor

Explain the concept of a nominal anchor. Then explain how, for some countries, the exchange rate can be used as a nominal anchor

  How much should d contribute in cash of other assets

How much should D contribute in cash of other assets? The following balance sheet is presented for the partnership of A, B and C, who share profits

  What are some audit procedures you could utilize

You are performing an audit and have been asked to test the accuracy of petty cash. What are some audit procedures you could utilize

  After reading about global business

After reading about global business - what would you say are the two biggest challenges for any company that wants to be a global contender? How might a company overcome these challenges? Do you think all companies today should have a global presence..

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