Reference no: EM13919871
Pratt Corp. started the accounting period with $30,000 of assets, $12,000 of liabilities, and $5,000 of retained earnings. During the period, the Retained Earnings account increased by $7,550. The bookkeeper reported that Pratt paid cash expenses of $26,000 and paid a $2,000 cash dividend to stockholders, but she could not find a record of the amount of cash that Pratt received for performing services. Pratt also paid $3,000 cash to reduce the liability owed to a bank, and the business acquired $4,000 of additional cash from the issue of common stock.
Required:
a. Prepare an income statement, statement of changes in stockholders equity, year end balance sheet, and statement of cash flows for the accounting period.
b. Determine the percentage of total assets that were provided by creditors, investors, and earnings.
|
Total tax savings
: This year Carrie decided to take some classes at the local community college to help improve her skills as a school teacher. The community college is considered to be a qualifying post-secondary institution of higher education. What is the total tax ..
|
|
What is the cost of equity if you ignore taxes
: Winter's Toyland has a debt-equity ratio of 0.58. The pre-tax cost of debt is 8.1 percent and the required return on assets is 15.1 percent. What is the cost of equity if you ignore taxes?
|
|
Include any related jurisdictional requirements
: Explain whether your specific case was heard in the state or federal court system, and include any related jurisdictional requirements
|
|
Identify the dependent and independent variables
: Determine the research questions and hypotheses being researched in each article.Identify the dependent and independent variables being manipulated or measured in each article.
|
|
Determine the percentage of total assets
: Pratt Corp. started the accounting period with $30,000 of assets, $12,000 of liabilities, and $5,000 of retained earnings.
|
|
What is the projects discounted payback
: Project K costs $55,000, its expected cash inflows are $13,000 per year for 8 years, and its WACC is 7%. What is the project's discounted payback?
|
|
Appropriate balance between creator and user of the material
: Determine whether or not existing "fair use" exceptions strike an appropriate balance between creators and users of the material. Provide two (2) specific examples to support your response.
|
|
How can the fx futures market be used for price discovery
: How can the FX futures market be used for price discovery? Explain the basic differences between the operation of a currency forward market and a futures market.
|
|
Identify the top three process improvement opportunities
: Analyze baseline data for the product or service discussed in the selected case to identify improvement opportunities. Establish performance requirements (quality, time, cost, customer satisfaction) for process improvement.
|