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If Superior Paint Company reports $50 million in
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- Electronic world inc paid out $24 million in total common dividends and reported $255.6 million of retained earnings at year-end. The prior year's retained earnings were $173.8 million. What was the net income? Assume that all dividens delcared were actually paid.The balance in the retained earnings of HAWKEYE Corporation on December 31, 2020 and 2021 respectively are P720,000 and P582,000. The net income for 2021 was P500,000. A share dividend was declared and distributed which increased ordinary share capital by P200,000 and share premium by P110,000. A cash dividend was declared and paid. What is the amount of cash dividends declared and paid? a. ₱ 638,000 b. ₱ 442,000 c. ₱ 328,000 d. ₱ 248,000Company Zeta had retained earnings balance of $4 million in the previous year. In the current year, its net Income is $2.7 million. If it pays $1.1 million in ordinary dividends in the current year, what is the resulting earnings balance?
- The company raises $5 million in equity capital by selling new shares of stock in the company to equity investors. The par value of these shares is $100,000. For each element of the fundamental accounting equation (A, L, E), indicate whether that element increases, decreases, or ultimately remains unchanged.An entity provided the following information for the current year:Dividend received 500,000Dividend paid 1,000,000Cash received from customers 9,000,000Cash paid to suppliers and employees 6,000,000Interest received 200,000Interest paid on long-term debt 400,000Proceeds from issuing share capital 1,500,000Proceeds from sale of long-term investments 2,000,000Cash paid for equity investment at FVOCI 800,000Income taxes paid 300,000Proceeds from long-term debt 3,000,000 Write O if the cash flow is under Operating Activities, I if the cash flow is under Investing Activities, and F if the cash flow is under Financing Activities.1. What is the net cash provided by operating activities?2. What is the net cash provided by investing activities?3. What is the net cash provided by financing activities?Selected information from the accounts of Colossians Co. at December 31, 2021 reveals that the total income since incorporation is P420,000; the total cash dividends paid is P130,000; the total value of property dividends distributed is P30,000; and the excess of proceeds over cost of treasury shares sold is P110,000. In its December 31, 2021 statement of changes in equity, what amount should the firm report as accumulated profits (retained earnings)?
- Selected information from the accounts of Colossians Co. at December31, 2021 reveals that the total income since incorporation is P420,000; the total cash dividends paid is P130,000; the total value of propertydividends distributed is P30,000; and the excess of proceeds over cost of treasury shares sold is P110,000. In its December 31, 2021 statement of changes in equity, what amount should the firm report as accumulated profits (retained earnings)? A.P260,000B.P290,000C.P370,000D.P400,000 Goliath Company purchased an equipment on January 2, 2017 forP3,000,000. At the date of acquisition, the equipment had a life of 6 years with no salvage value. The equipment is being depreciated on a straight-line basis. In January 2020, Goliath Company determined that the equipment had a useful life of 8 years from the date of acquisition with no salvage value. What should be the carrying amount of the equipment as of December 31, 2020? A.P300,000B.P500,000C.P1,200,000D.P1,800,000 Bayabas…Mr. Husker’s Tuxedos Corp. began the year 2021 with $280 million in retained earnings. The firm earned net income of $45 million in 2021 and paid dividends of $6 million to its preferred stockholders and $15 million to its common stockholders. What is the year-end 2021 balance in retained earnings for Mr. Husker’s Tuxedos? (Enter your answer in millions of dollars.)At the beginning of the current year, Wilson Corporation had 200,000 shares of 1$ par common stock outstanding and had retained earnings of $4,800,000. During the year, the company had earned $1,675,000 and paid a year end cash dividend of $3 per share. What was wilson corporations retained earnings at the end of the year?
- Selected information from the accounts of Jay Co. at December 31, 2021 reveals that the total income since incorporation is $42,000; the total cash dividends paid is $13,000; the total value of property dividends distributed is $3,000; and the excess of proceeds over cost of treasury shares sold is $11,000. In its December 31, 2021 statement of changes in equity, what amount should the firm report as accumulated profits (retained earnings)?Malit Corporation has a total shareholders' equity of P1,000,000, including retained earnings of P190,000. The cash balance is P350,000. The maximum cash dividend the corporation can declare and pay isIf a company had retained earnings of $40,000 at the beginning of the year, net earnings of $50,000, and a year ending retained earnings of $90,000, it paid its owners a dividend at some point during the year. True or False
