Equity
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During a reporting period, a company’s assets increase by P80,000,000. Liabilities decrease by P20,000,000. Equity must therefore?
a. Decrease by P100,000,000
b. Increase by P100,000,000
c. Increase by P60,000,000
d. Decrease by P60,00,000
Step by step
Solved in 3 steps
- If equity equals $100,000, which of the following is true? A. Assets exceed liabilities by $100,000. B. Liabilities exceed equity by $100,000. C. . D. None of the above is true.Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): The percent a company adds to its cost of sales to determine selling price is called a markup. What is Tootsie Roll’s markup percent? Round to one decimal place.Net income and dividends The income statement of a corporation for the month of February indicates a net income of $32,000. During the same period, $40,000 in cash dividends were paid. Would it be correct to say that the business Incurred a net loss of $8000 during the month? Discuss.
- Income statement, retained earnings statement, and balance sheet The amounts of the assets and liabilities of Glacier Travel Service as of September 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $150000 and the common stock was $50000 as of October 1, 20Y5, the beginning of the current year. Dividends of $10000 were paid during the year. Instructios Prepare a statement of stockholders’ equity for the current year ended September 30. 20Y6.Return on assets The following data (in millions) were adapted from recent financial statements of Tootsie Roll Industries Inc. (TR): What is Tootsie Roll’s percent of the cost of sales to sales? Round to one decimal place.Farmington Corporation began the year with a retained earnings balance of $20,000. The company paid a total of $3,000 in dividends and earned a net income of $60,000 this year. What is the ending retained earnings balance?
- Income statement, retained earnings statement, and balance sheet The amounts of the assets and liabilities of Glacier Travel Service as of September 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $150000 and the common stock was $50000 as of October 1, 20Y5, the beginning of the current year. Dividends of $10000 were paid during the year. Instructions Prepare a balance sheet as of September 30, 20Y6.The following data (in millions) are taken from the financial statements of Target Corporation: a. For Target Corporation, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income b. What conclusions can you draw from your analysis of the revenue and the total operating expenses?Five measures of solvency or profitability The balance sheet for Garcon Inc. at the end of the current fiscal year indicated the following: Income before income tax was 3,000,000, and income taxes were 1,200,000 for the current year. Cash dividends paid on common stock during the current year totaled 1,200,000. The common stock was selling for 32 per share at the end of the year. Determine each of the following: (a) times interest earned ratio, (b) earnings per share on common stock, (c) price-earnings ratio, (d) dividends per share of common stock, and (e) dividend yield. Round ratios and percentages to one decimal place, except for per-share amounts.
- Income statement, retained earnings statement, and balance sheet The amounts of the assets and liabilities of Glacier Travel Service as of September 30, 20Y6, the end of the current year, and its revenue and expenses for the year are listed below. The retained earnings were $150000 and the common stock was $50000 as of October 1, 20Y5, the beginning of the current year. Dividends of $10000 were paid during the year. Instruction Prepare an income statement for the current year ended september 30, 20Y6.Montana Incorporated began the year with a retained earnings balance of $50,000. The company paid a total of $5,000 in dividends and experienced a net loss of $25,000 this year. What is the ending retained earnings balance?
