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?

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?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 9RE: For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the...

See similar textbooks

Similar questions

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?
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?
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
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?
The following information relates to a firm for Year 8. £ Noncurrent liabilities 147,000 Expenses 113,000 Current liabilities at end of the year 165,000 Sales revenue 358,000 Current assets at end of the year 436,000 Noncurrent assets at end of the year 400,000 The owner did not withdraw or introduce any equity during the year. What was the equity at the beginning of the year?
At the beginning of the year, the owner’s capital of SLG Company is $300,000 while its liabilities at the end of the year are $180,000. During the year, the owner withdrew cash for his personal use amounting to $80,000 and the results of operations showed revenues of $900,000 and expenses amounted to $320,000. What is the amount of SLG Company’s total assets at the end of the year? — $980,000 Question: If the total liabilities decreased by $25,000 during a period and equity increased by $30,000 during the same period, what is the amount and direction (increase or decrease) of the period’s change in total assets? a) $5,000 decreaseb) $5,000 increasec) $55,000 increased) $55,000 decrease
The following information relates to Shankly Co for Year 4. £ Equity at start of year 115,000 Sales revenue 165,000 Current liabilities at end of the year 100,000 Non-current liabilities at end of the year 120,000 Current assets at end of the year 140,000 Non-current assets at end of the year 165,000 The owner did not withdraw or introduce any equity during the year. What were the expenses for the year?
At the start of the period, a business 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 total expenses of ₱640,000. No additional investments or withdrawals were made by the owner. Total assets at the end of the period were ₱830,000. How much is the total liabilities at the end of the period?A. 280,000B. 270,000C. 260,000D. 240,000
At the beginning of the year, a firm had current assets of $121,306 and current liabilities of $124,509. At the end of the year, the current assets were $122,418 and the current liabilities were $103,718. What is the change in net working capital?