Find how much microtel total stockholder equity at year-end

Assignment Help Financial Accounting
Reference no: EM132538577

Microtel began operations at the beginning of 2016 with a $10,000 cash investment by stockholders. During 2016 Microtel had revenue on account of $5,000; of this amount $2,000 was collected during 2016 and $3,000 was outstanding receivable at year-end. Microtel incurred $3,000 of operating expenses during 2016; of this amount $1,000 was unpaid at year end. During 2016, $1,000 was disbursed as dividends. The only other transaction during 2016 was the purchase of $5,000 of equipment for cash near the end of the year.

Question 1: Find How much was Microtel's total stockholders' equity at year-end?

Reference no: EM132538577

Questions Cloud

Purchased a condo in brossard on montreal : Vince purchased a condo in Brossard on Montreal's South Shore near Dix30 for $550,000. What would be his land transfer tax (taxe de bienvenue)?
Creating text message : Explain what happened with the internet and how that will affect your schoolwork.
Sam is trying to get her personal finances in order : Sam is trying to get her personal finances in order. She does not know how to organize the following information.
Show the machinery account and depreciation : Show the Machinery Account and Depreciation Account for the year ending 31st March 2016, 2017 and 2018.
Find how much microtel total stockholder equity at year-end : Find How much was Microtel's total stockholders' equity at year-end? Microtel began operations at the beginning of 2016 with a $10,000 cash investment
How is the sum of the year digits method derived : Explain the difference between the straight-line method of depreciation and accelerated depreciation. When might each be used?
Find how much did shareholders initially invest in business : The company earned $75,000 during the first year, and distributed $30,000 to shareholders as dividends. How much did shareholders initially invest in business?
How is the sum of the year digits method derived : Explain the difference between the straight-line method of depreciation and accelerated depreciation. When might each be used?
Find how much microtel total stockholder equity at year-end : Find How much was Microtel's total stockholders' equity at year-end? Microtel began operations at the beginning of 2016 with a $10,000 cash investment

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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