User Account

All Pages

Calculate the Stockholders equity as of December

Assignment Help Financial Accounting
Reference no: EM132767860

Question - Lynn Shackelford is the stockholder and operator of Galaxy LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, Galaxy has assets of $690,000 and liabilities of $166,000. Using the accounting equation, calculate the following amounts:

a. Stockholders' equity as of December 31, 2017.

b. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $131,000 and liabilities decreased by $40,000 during 2018.

Reference no: EM132767860

Questions Cloud

Communication and team decision making : What are some of the possible biases and points of error that may arise in team communication systems?
What does the term LIFO liquidation mean : Should the president be enthralled with the new controller? Explain your answer. What does the term LIFO liquidation mean
List the current liability associated with this transaction : The first $1,000,000 installment is due September 30, 2019. List the current liability associated with this transaction
Determine the amounts that should be included in the cost : Municipal grant to promote locating building in the municipality (8,800). Determine the amounts that should be included in the cost
Calculate the Stockholders equity as of December : Calculate the Stockholders' equity as of December 31, 2018, assuming that assets decreased by $131,000 and liabilities decreased by $40,000 during 2018
How many miles Russell needs to drive to break even : Russell has determined that if he drives 3,600 miles in a month, Determine how many miles Russell needs to drive to break even
How much is the total ordering and carrying cost : Quick Corp. usually buys Product X in lots of 1 200 units which represent a four month supply. How much is the total ordering and carrying cost
What is Company Xs ROE : Company X has 600 shares of common stock, booked as stock value of $24,000, and paid in capital of $420,000. What is Company Xs ROE
Find the cost of equity after the capital structure change : The value of the unlevered firm is $9,375,000. There are 500,000 shares outstanding. Find the cost of equity after the capital structure change

Reviews

Write a Review

Financial Accounting Questions & Answers

  Summarise the background to the case

Summarise the background to the case and Summarise the main issue/s outlined in the case - Identify the problems these issues create

  Goodwill is reported on a consolidated balance sheet only

goodwill is reported on a consolidated balance sheet only if it was acquired in the merger or acquisition.nbspnbsp

  Evaluate cost amount per unit and total manufacturing cost

Evaluate the cost amount per unit and total manufacturing costs for the production and sale of 5,000 units of cellular phones. Evaluate the product cost markup percentage rounded to two decimal places for cellular phones.

  What was the carrying amount of the securities on steinway

What would the carrying amount have been had the securities been trading securities? What was the carrying amount of the securities on Steinway's books?

  Define the financial reporting entity

With regard to GASB rules for the financial reporting entity, answer the following: Define and give an example of a primary government.

  The equipment has no residual value

Richol Corp is considering an investment in new equipment costing $180,000. The equipment will be depreciated on a straight line basis over 5 year life and is expected to generate net cash inflows of $45,000 the first year, $65,000 the second year an..

  What is the required rate of return on the equity

The historical return on equity (ROE) of 12 per cent is expected to continue in the future. What is the required rate of return on the equity

  Prepare the new cash flow statement for the pamodzi group

Prepare the new cash flow statement for the Pamodzi group that incorporates the disposal of SAM hotel (show all the workings)

  Calculate the percentage changes in earnings per share

Calculate earnings per share (EPS) under each of the three economic scenarios assuming the company goes through with recapitalization.

  The price per unit of its smart phone products

Talmont products has dropped the price per unit of its smart phone products from $1,060 to $500.00. There are some units in work in process inventory that have costs of $600.00 per unit associated with them. Talmont could sell these units in their cu..

  Describe the elements involved in capital investment

Describe the elements involved in capital investment calculations. Can you think of any additional elements beyond the numeric ones described

  What is the card eff

Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 17.50%, with interest paid monthly, what is the card's EFF%?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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