Determine the changes in paid-in capital

Assignment Help Accounting Basics

Reference no: EM131766119

Question: At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,600 and liabilities of $6,300. During the year, liabilities decreased by $1,300. Net income for the year was $3,100, and net assets at the end of the year were $7,100. There were no changes in paid-in capital during the year.

Calculate the dividends, if any, declared during the year. (Negative amounts should be indicated by a minus sign.)

Assets 12,600 Liabilities PIC Retained Earnings

Beginning:________ 6,300 0 __________

Changes:________ 1,300 0 ___________

Ending:_________ 5,000 0 ___________

Reference no: EM131766119

Questions Cloud

Determine the total costs of printing photos : Determine the total costs of printing 20,000 and 50,000 photos per month

Describe one reason for adhering to high standards in ethics : Describe one reason for adhering to high standards in ethics - Discuss the difference between ethical responsibility and ethical dilemma

Describe the strengths and limitations of the given models : Describe the strengths and limitations of these models. Compare these models to the business plan models in either Microsoft Project or Apple Merlin.

Prepare stockholders equity section of the balance sheet : Exercise - Prepare the stockholders equity section, Finishing Touches has two classes of stock authorized 9%. 510 par preferred and $1 par value common

Determine the changes in paid-in capital : At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $12,600 and liabilities of $6,300.

What is the total variable cost for electricity at a level : JCO has variable and fixed costs for electricity of $373,269 and $318,768 respectively. What is the total variable cost for electricity at a level of 6,590 unit

Compute the total expected overhead cost : The Blaine Company is a highly automated manufacturer. At an activity level of 6,000 machine setups, total overhead costs equal £240,000.

Discuss how much manufacturing overhead did ico apply : total manufacturing overhead charges of $291,101. Based on this data, how much manufacturing overhead did ICO apply in May

What arguments can you make in favor of the proposed rule : What are the potential constitutional problems raised by the proposed rule? What arguments can you make in favor of the proposed rule?

User Account

All Pages