Bayler Enterprises had a capital balance of $186,000 at the beginning of the period. At the end of the accounting period, the capital balance was $189,000. a. Assuming no additional investment or withdrawals during the period, what is the net income for the period? b. Assuming an additional investment of $13,000 but no withdrawals during the period, what is the net income for the period?21

Bayler Enterprises had a capital balance of $186,000 at the beginning of the period. At the end of the accounting period, the capital balance was $189,000. a. Assuming no additional investment or withdrawals during the period, what is the net income for the period? b. Assuming an additional investment of $13,000 but no withdrawals during the period, what is the net income for the period?21

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20EB: Trumpet and Trombone Manufacturing, Inc. began the year with a retained earnings balance of...

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Trumpet and Trombone Manufacturing, Inc. began the year with a retained earnings balance of $545,000. The company had a great year and earned a net income of $190,000 this year and paid dividends of $14,000. Additionally, the companys controller determined that it had made an error when calculating tax expense in the preceding year, resulting in an understated expense amount of $22,000. What is the ending retained earnings balance?
For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the beginning of the year, its retained earnings had a balance of 95,000. During the year, Vidalia paid 11,000 dividends to shareholders. Its contributed capital was 56,000 at the beginning of the year, and it did not issue any new stock during the year. Vidalias assets total 237,500 on December 31 of the current year. What are Vidalias total liabilities on December 31 of the current year?
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Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Refer to the information for Juroe Company on the previous page. Also, assume that Juroes total assets at the beginning of last year equaled 17,350,000 and that the tax rate applicable to Juroe is 40%. Required: Note: Round answers to two decimal places. 1. Calculate the average total assets. 2. Calculate the return on assets.
Bayler Enterprises had a capital balance of $186,000 at the beginning of the period. At the end of the accounting period, the capital balance was $189,000. Assuming no additional investment or withdrawals during the period, what is the net income for the period? Assuming an additional investment of $13,000 but no withdrawals during the period, what is the net income for the period?
Oriole Enterprises had a capital balance of $190000 at the beginning of the period. At the end of the accounting period, the capital balance was $192500. 1. Assuming no additional investment or withdrawals during the period, what is the net income for the period? 2. Assuming an additional investment of $14300 but no withdrawals during the period, what is the net income for the period?
For the year just ended, Alpha Construction Services, Inc. started the year with net fixed assets of $625,000. The firm has Net Working Capital of $56,680. The company has a Total Debt Ratio of .45. The company took $125,000 in depreciation expense during the year. If the firm did not acquire any new assets nor dispose of any old fixed assets during the year, what amount in net fixed assets will the firm report at year-end?
At the start of the period, ABC Company has total assets of ₱500,000 and total liabilities of ₱300,000. During the period, the business earned total income of ₱1,000,000 and incurred total expenses of ₱640,000. No additional investments or withdrawals were made by the owner. How much is the total equity at the end of the period?
Rousey, Incorporated, had a cash flow to creditors of $16,740 and a cash flow to stockholders of $7,244 over the past year. The company also had net fixed assets of $49,580 at the beginning of the year and $56,980 at the end of the year. Additionally, the company had a depreciation expense of $12,132 and an operating cash flow of $50,801. What was the change in net working capital during the year?
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