User Account

All Pages

Find what is total shareholders equity at the end

Assignment Help Financial Accounting
Reference no: EM132518482

Golden Gophers, Inc. (GG) was established on January 1, 2019. GG was authorized to issue 1 million shares of $0.01/share par value common stock.

During 2019, the following transactions occurred:

  1. Issued 100,000 shares of common stock for $8/share
  2. Issued 50,000 shares of common stock for $6/share
  3. Reported net income of $625,000
  4. Paid cash dividends of $100,000
  5. Repurchased 10,000 shares of common stock at $5/share

Question 1: What is total shareholders' equity at the end of 2019?

Option a. $950,000

Option b. $1,575,000

Option c. $1,050,000

Option d. $1,725,000

Reference no: EM132518482

Questions Cloud

Explain an organization need for a him professional : Explain an organization's need for a HIM professional to ensure long-term meaningful use and current incentive program compliance.
Performance appraisal-current evaluation methods : Discuss the assessment of employees within the Telespazio organization. Develop a written description discussing current evaluation methods,
Create an instructional message for the content : Create an instructional message for the content. Specify the function, content structure, learner, and task attributes as they relate to your project.
Rise in the price of baked beans : 1. Using the above information, explain and illustrate the factors which caused a rise in the price of baked beans.
Find what is total shareholders equity at the end : What is total shareholders' equity at the end of 2019? Golden Gophers, Inc. (GG) was established on January 1, 2019. GG was authorized to issue 1 million shares
Describe the challenges associated with big data analytics : For this assignment, you are required to research the benefits as well as the challenges associated with Big Data Analytics for Manufacturing Internet of Things
Money supply in the economy : Given everything else unchanged, how does this affect money supply in the economy? Explain.
What will be the depreciation expense that must be recorded : Using units of production method, what will be the depreciation expense that must be recorded at the end of the second year ?
What will accumulated depreciation for equipment on december : Assuming that the residual value of the asset is $ 2,000, what will be the accumulated depreciation for this equipment on December 31, 2019?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Partial income statement account balances

The following are partial income statement account balances taken from the December 31, 2016, year-end trial balance of White and Sons, Inc.: restructuring costs, $450,000; interest revenue, $55,000; before-tax loss on discontinued operations, $550,0..

  What would be the incremental income and loss per tin

Yumminess has asked Jordon and Taylor to consider making Extra Attack Brownies and Nutty Attack Brownies, in addition to Chocolate Attack Brownies. The selling price to Yumminess would be $12 and $14.50 per tin, respectively, compared to the original..

  Barring any special allocations in a partnership agreement

Charley is a partner in Charley, Austin, Liz & Bass Partnership. Charley owned 25% from January 1, 2015 to April 1, 2015 when he bought both Liz's 25% and Bass's 25% interests. He owned 75% for the rest of the year. The partnership had ordinary incom..

  Caring about the well-being of others is a human universal

Caring about the well-being of others is a human universal. Although they may express these values differently, all cultures endorse fairness

  Facts pertain to a non-cancellable lease agreement

Assume that the following facts pertain to a non-cancellable lease agreement between Fifth-Third Leasing Company and Bob Evans Farms, a lessee. Prepare the journal entries for the lessee for 2014 and 2015 to record the lease agreement and all expense..

  What was the purchase price of the building

What was the purchase price of the building? Write down all necessary adjusting journal entries for the end of December 2015.

  Common fixed expense not traceable to individual divisions

Colasuonno Corporation... Colasuonno Corporation has two divisions: the West Division and the East Division. The corporation's net operating income is $97,500. The West Division's divisional segment margin is $38,800 and the East Division's divisiona..

  Ledger of sally and balance off the accounts

Problem: Sally has recently opened a pastry stall and his transaction during May were as follows:

  What was consolidated cost of goods sold

Cost of goods sold was $10,800,000 for Webb and $6,400,000 for Rand. What was consolidated cost of goods sold?

  Using the units-of-production method-straight-line method

Sketches Inc. purchased a machine on January 1, 2016. The cost of the machine was $39,500. Its estimated residual value was $12,500 at the end of an estimated 5-year life. The company expects to produce a total of 10,000 units. Calculate depreciation..

  What are the cash receipts

XYZ Corp has sales forecast of the following = January = $40,000; February = $65,000; March = $52,850. All sales are on account and are collected as follows: 20% in the current month, 50% in the month following, 25% in the second month following, and..

  Uses the effective-interest method

A company issued $15,000,000 of 8% debentures on May 1, 2017 and received cash totaling $13,308,942. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective-interest rate of 10%. Usi..

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