Reference no: EM132728095

Questions -

Q1. Assume that retained earnings increased by $66,166 from June 30 of year 1, to June 30 of year 2. A cash dividend of $2,011 was declared and paid during the year. The firm sold Capital Stock for $10,000 in cash during the year. Assume expenses for the year were $46,393. Compute the revenue for the year.

Q2. Acme Inc. has Assets of $174,925 and Liabilities of $71,629. Then the firm receives $13,198 from an investor in exchange for new stock which the firm issues to the investor. What is the value of Stockholders' Equity after the investment? Enter the value in whole numbers with no decimals.

Q3. Assume that retained earnings increased by $59,728 from June 30 of year 1, to June 30 of year 2. A cash dividend of $12,446 was declared and paid during the year. Compute the net income for the year.

Q4. On June 1 Acme Inc. has Retained Earnings of $35,356. Revenues for June were $5,820. Expenses for June were $2,281 In June the company paid out a total of $632 in dividends to its shareholders. What is the value of Retained Earnings on June 30?

Q5. On June 1 Acme Inc. has Retained Earnings of 79,008. Net Income for June was 20,104. In June the company paid out a total of 5,030 in dividends to its shareholders. What is the value of Retained Earnings on June 30?

Q6. On December 31 of year 1, Acme Company had assets of $151,020, liabilities of $97,928, and capital stock of $29,798. During year 2, Acme earned revenues of $45,022 and incurred expenses of $34,346. During year 2 the firm declared and paid Dividends amounting to $2,834. Compute the company's retained earnings on December 31 of year 1.A

Q7. Acme Inc. has Assets of $103,430 and Liabilities of $74,988. What is the Equity Ratio? Enter the value rounding to 2 decimals.

Q8. On June 1 Acme Inc. has Shareholders' Equity of $70,524. In June the firm sold $11,975 in additional capital stock for cash. In June the firm obtained an interest free loan of $49,754 from one of the stockholders. Revenues for June were $23,538. Expenses for June were $13,147 In June the company paid out a total of $1,139 in dividends to its shareholders. What is the value of Shareholders' Equity on June 30?

Q9. On December 31 of year 1, Acme Company had assets of $145,586, liabilities of $96,842, and capital stock of $29,721. During year 2, Acme earned revenues of $45,787 and incurred expenses of $33,545. During year 2 the firm declared and paid Dividends amounting to $2,770. Compute the company's retained earnings (the total amount in the books) on December 31 of year 2?