Question
In: Accounting
Presented below is financial data for Thomas & Co. as of year-end 2013 Cash: $22000 Retained...
Presented below is financial data for Thomas & Co. as of
year-end 2013
Cash: $22000
Retained earnings, January 1, 2013: $32000
Building: $50000
Common stock: $106000
Accrued expenses payable: $14000
Dividends paid: $30000
Inventory: $20000
Net income: $66000
Stockholders’ equity, January 1, 2013: $138000
Retained Earnings, December 31, 2013: ?
Stockholders’ equity, December 31, 2013: $174000
Prepare a statement of stockholders’ equity for Thomas &
Co. as of December 31, 2013
Solutions
Expert Solution
- Statement of Stockholder’s Equity is presented below
- Retained Earnings balance can be calculated by adding Net Income and deducting Dividend amount from Beginning balance of Retained Earnings.
|
Statement of Stockholder's Equity as of Dec 31, 2013 |
|||
|
Common Stock |
Retained Earnings |
Total Stockholder's Equity |
|
|
Balance jan 1, 2013 |
$ 106,000.00 |
$ 32,000.00 |
$ 138,000.00 |
|
Net Income |
$ 66,000.00 |
$ 66,000.00 |
|
|
Dividends |
$ (30,000.00) |
$ (30,000.00) |
|
|
Balance Dec 31, 2013 |
$ 106,000.00 |
$ 68,000.00 |
$ 174,000.00 |
ekkarill92 answered 1 year agoRelated Solutions
Presented below are data for Wildhorse Co.
Presented below are data for Wildhorse Co.20202021Assets, January 1$6835?Liabilities, January 1?$4109Stockholders' Equity, Jan. 1?$4117Dividends845974Common Stock917969Stockholders' Equity, Dec. 31?3402Net Income1016?Net income for 2021 is$715 loss.$207 income.$715 income.$259 loss.
Exercise 23-11 Condensed financial data of Pat Metheny Company for 2014 and 2013 are presented below....
Exercise 23-11 Condensed financial data of Pat Metheny Company
for 2014 and 2013 are presented below. PAT METHENY COMPANY
COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2014 AND 2013 2014
2013 Cash $1,805 $1,109 Receivables 1,752 1,294 Inventory 1,598
1,915 Plant assets 1,898 1,691 Accumulated depreciation (1,197 )
(1,176 ) Long-term investments (held-to-maturity) 1,308 1,464
$7,164 $6,297 Accounts payable $1,202 $782 Accrued liabilities 209
234 Bonds payable 1,406 1,649 Capital stock 1,902 1,706 Retained
earnings 2,445 1,926 $7,164 $6,297 PAT...
R.V. Motors had $80,000 in cash at year-end 2012 and $30,000 in cash at year-end 2013....
R.V. Motors had $80,000 in cash at year-end 2012 and $30,000 in
cash at year-end 2013. Cash flow from long-term investing
activities totaled $–200,000, and cash flow from financing
activities totaled $240,000. What was the cash flow from operating
activities?
a.
$150,000
b.
$–90,000
c.
$–10,000
d.
$90,000
e.
$10,000
Summary financial data of the Vinegar Cleaning Co. for December are presented below in transaction form....
Summary financial data of the Vinegar Cleaning Co. for December
are presented below in transaction form.
Began operations by depositing $52.000 in a business bank
account.
Cash income received for cleaning services, $500.
Paid salaries for the month, $10,200.
Paid general expenses, $600.
Paid $1.000 on account.
The inventory of supplies on hand at the end of the month was
$50.
Form a table and workout the question
by using the following accounts; cash, supplies, equipment,
accounts payable, capital and...
Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement...
Selected financial statement information and additional data for
Stanislaus Co. is presented below. Prepare a statement of cash
flows for the year ending December 31, 2020 and answer the question
below and other questions from the same statement of cash flows.
December 31 2019 2020
Cash........................................................
$39,000 $54,000 Accounts receivable (net).......................
84,000 144,200
Inventory................................................. 168,000
206,600
Land.........................................................
61,800 32,000
Equipment............................................... 504,000
789,600 TOTAL.......................................... $856,800
$1,226,400 Accumulated depreciation...................... $84,000
$110,600 Accounts payable................................... 50,400
91,000 Notes payable - short-term.................... 67,200 29,400
Notes...
Selected financial statement information and additional data for Ronis Co. is presented below. Use this information...
Selected financial statement information and additional data for
Ronis Co. is presented below. Use this information to answer the
next (3) questions concerning in preparing a statement of cash
flows for the year ending December 31, 2017.
2016 2017
Cash...........................................................
$60,000
$122,000
Accounts receivable
(net)................................
67,000
100,000
Inventory....................................................
210,000
198,000
Land...........................................................
350,000
300,000
Equipment...................................................
385,000
405,000
Accumulated
depreciation...............................
(280,000)
(260,000)
TOTAL............................................
$792,000
$865,000
Accounts
payable..........................................
42,000
40,000
Bonds payable -
long-term...............................
...
Selected financial statement information and additional data for Jasmine Co. is presented below. Prepare a statement...
Selected financial statement information and additional data for
Jasmine Co. is presented below. Prepare a statement of cash flows
for the year ending December 31, 2020
December 31
2020 2019
Cash $65,000 $42,000
Accounts receivable (net) 144,200 84,000
Inventory 206,600 168,000
Land 21,000 58,800
Equipment…………………………………. 789,600 504,000
A/D- Eqp………....................................... 115,600
84,000
Accounts payable 86,000 50,400
Notes payable - short-term 29,400 67,200
Notes payable - long-term 302,400 168,000
Common stock 487,200 420,000
Retained earnings 205,800 67,200
*change in inventory is an...
Selected financial statement information and additional data for Stanislaus Co. is presented below. Prepare a statement...
Selected financial statement information and additional data for
Stanislaus Co. is presented below. Prepare a statement of cash
flows for the year ending December 31, 2017.
December 31
2016
2017
Cash.........................................................
$42,000
$60,000
Accounts receivable
(net)........................
84,000
144,200
Inventory..................................................
168,000
206,600
Land.........................................................
58,800
26,000
Equipment................................................
504,000
789,600
TOTAL.........................................
$856,800
$1,226,400
Accumulated
depreciation.......................
$84,000
$110,600
Accounts
payable....................................
50,400
91,000
Notes payable -
short-term......................
67,200
29,400
Notes payable -
long-term.......................
168,000
302,400
Common
stock........................................
420,000 ...
As Surfboard Co. fiscal year-end was nearing, the CFO presented the CEO expected financial statement results...
As Surfboard Co. fiscal year-end was nearing, the CFO presented
the CEO expected financial statement results for the year. The
after-tax operating income (OI) was to be $43.7 million resulting
in a return on beginning-of-period net operating assets (NOA) of
19.0 percent. “This won’t do!,” declared the CEO. “The Street is
expecting a 20.0 percent RNOA,” the CEO continued and sent the CFO
back to her office to find any “accounting tricks” to meet the
target.
A. How much after-tax...
Reproduced below are selected financial data at the end of Year 6 and forecasts for the...
Reproduced below are selected financial data at the end of Year
6 and forecasts for the end of Year 7 for AlMasa Company:
Account
Year 6
Year 7 (Forecast)
Cash
$42,000
?
Accounts receivable
90,000
?
Inventory
38,400
$90,000
Fixed assets
120,000
120,000
Accumulated depreciation
25,800
30,000
Accounts payable
78,000
146,400
Notes payable
21,000
18,000
Accrued taxes
10,800
0
Capital stock
120,000
120,000
Additional forecast estimates for Year 7:
Sales
$495,000
Net
Income
$12,000
Cost of
sales
55% of sales...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- The requirements for your assignment are: Decode the IP address 172.16.31.255 /20 Determine the following: Subnet...
- Examine the various types of contracts available to Toyota when dealing with international suppliers and advise...
- Problem 10-08 NPVs, IRRs, and MIRRs for Independent Projects Edelman Engineering is considering including two pieces...
- Give an example for market segmentation for a new company developing either products for cats or...
- Suppose you have set a specific goal for the balance in your savings account 12 years...
- Explain in very good details the hardening and procedures of Microsoft Server 2019
- Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $85,300...
ADVERTISEMENT