Oman Company has a common stock of $5,500, a paid-in surplus of $8,200, tota liabilities of $6,600, current assets of $7,200, and fixed assets of $16,900. What is the amount of the shareholders' equity? a. $10,300 Ob. $13,700 c. $15,600 d. $17,500 e. $20,300

Oman Company has a common stock of $5,500, a paid-in surplus of $8,200, tota liabilities of $6,600, current assets of $7,200, and fixed assets of $16,900. What is the amount of the shareholders' equity? a. $10,300 Ob. $13,700 c. $15,600 d. $17,500 e. $20,300

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter1: The Role Of Accounting In Business

Section: Chapter Questions

Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...

See similar textbooks

Related questions

Q: Following are some data from the financial statements of TIK Company and TOK, Inc.: TIK Company TOK…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: Chartreuse Corporation reported the following information at the end of its firs Common stock:…

A: Introduction:- The word "cost" has a very specific meaning. It refers to the transfer of money or…

Q: Otis Company's income statement information follows: Year 3 Year 2 Net sales $480,000 $320,000…

A: Ratio analysis includes computation of financial ratios to compare for two or more periods or…

Q: Flanders Ltd. reported the following information for its 2021 fiscal year: Net income before taxes…

A: Given, Net income after taxes = $562,500 Preferred dividends =$35,000

Q: Here is the income statement for Teal Mountain Inc. TEAL MOUNTAIN INC. Income Statement For the…

A: SOLUTION- RATIO ANALYSIS- IT IS THE PROCESS OF EXAMINING AND COMPARING OF FINANCIAL INFORMATION BY…

Q: Lax Company provided the following information for the current year: Net loss 100,000; Total assets…

A: Retained earnings refers to the accumulated balance of the profits earned and losses incurred by the…

Q: Your company's income statement for the year ended 30 September 20X8 showed the following: $'000…

A: We have the following information: Net profit before interest and tax: $1,200 Interest: $200…

Q: The questions (a) through (g) refer to Five Star Manufacturing Company. Use the following…

A: Note: As per our guidelines, only the first three subparts will be answered a. Level Of working…

Q: The following amounts are reported in the ledger of Mariah Company: Assets $80,000 Liabilities…

A: Assets = $80,000 Liabilities = $36,000 Retained earnings = $12,000

Q: The company's total shareholders' equity as of 12/31/2020 is $1,777,000 Common stock; par value of…

A: Multi-step income statement approach is an approach that categorizes the income and expenses as…

Q: he company had the following final balances after the Arst year af aperations: assets, $45,000,…

A: solution given Assets 45000 Stock holders equity 25000 Net income 10000…

Q: The following balances were obtained from the books of Tim Curry plc as at December 31,…

A: An income statement is a financial report that indicates the revenue and expenses of a business. It…

Q: ts and $170,000 in shareholders equity. What is the total of the company's liabilities? A. $360,000

A: Total liabilities are the sum of an individual's or company's debts and commitments to third…

Q: Here is the income statement for Teal Mountain Inc. TEAL MOUNTAIN INC. Income Statement For the…

A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want…

Q: On December 31, Sulfur Corporation has the following data available: Net income $100,000…

A: Leverage Ratio :— It is the financial indicator to measure ability to pay future financial…

Q: Ernst Company's balance sheet shows total liabilities of $32,500,000, total stockholders' equity of…

A: Ratio analysis is a tool used to measure and evaluate the financial condition and profitability of a…

Q: A company had a beginning balance in retained earnings of $430,000. It had net income of $60,000 and…

A: Retained Earnings is the revenue that is not distributed up as dividends but is instead reinvested…

Q: Here is the income statement for Windsor, Inc. WINDSOR, INC. Income Statement For the Year Ended…

A: The income statement for Windsor, Inc is given Required Compute the following measures for 20201.…

Q: Need help ASAP :(

A: Solution: Working capital of the company = Current assets - Current liabilities

Q: I need amounts for total current assets, total assets, retained earning, dec 31, year 1, and tiotal…

A: Retained earnings, December 1, Year 1.

Q: balances of AOCI $27,000 (debit), APIC $77,000, and Retained Earnings $313,000. For Year 2, the…

A: The company can issue shares for the whole accounting year and it can sell at any time for the need…

Q: A company reports the following in its balance sheet:Total assets of $800,000 and total liabilities…

A: Stockholders' equity: Stockholders' equity means the remaining net assets available to shareholders.…

Q: A company has the following items for the fiscal year 2020: Revenue = 10 million Net income = 4…

A: Earning per share is the earnings attributable to each share of the common stockholders.

Q: Mazaya Company provided the following financial information as of March 31, 2011. Revenue RO140,000,…

A: Owner’s equity refers to the right the owner posses over the resources of the business. Revenues and…

Q: The assets of Star Company are $160,000 and the total liabilities are $60,000. The equity is…

A: The balance sheet represents that the assets are equal to the sum of liabilities and stockholders'…

Q: A company has the following extract from a statement of financial position. 20X7 20X6 $'000 $'000…

A: Given the following information: Share Capital20X7: $2,000,00020X6: $1,000,000 Share Premium20X7:…

Q: BNG Inc. has cash of $16,300, inventory of $56,400, accounts receivable of $128,366, accounts…

A: Accounting Equation shows the relationship between assets, liabilities, and equity of the company.…

Q: The following information pertains to Windsor Company. Assume that all balance sheet amounts…

A: Answer - Payout Ratio - Dividends / Net Income. The payout ratio is a financial metric showing the…

Q: Company A has net sales revenue of $780,000, cost of goods sold of $343,200 and all other expenses…

A: Basic EPS = Net Income / Weighted Average No. of Shares Sales Revenue = $780000 Cost of Goods Sold =…

Q: a company has the following items: share capital-ordinaty: $920,000 treasury shares : $85,000…

A: Total equity = Share capital-ordinaty + retained earning - treasury shares

Q: Some selected financial statement items belonging to MNO Company are given in the table below.…

A: Return on assets is a financial measure that is computed to measure the income generated by the…

Q: Use the accounting equation to answer each of the following questions. (a) The liabilities of Alli…

A: Here we used the concept of Accounting Equation . Main Concept Of accounting equation is Total…

Q: At September 1, 2021, Vaughn Co. reported stockholders’ equity of $155800. During the month, Vaughn…

A: Solution: Amount of stockholders’ equity at September 30, 2021 Beginning Balance $155,800 Add:…

Q: Here is the income statement for Tamarisk, Inc. TAMARISK, INC. Income Statement For the Year Ended…

A: a. Compute earnings per share for 2020 as shown below:

Q: If Mitchell Company has Assets of $5,000,000, Liabilities of $3,000,000, and Retained Earnings of…

A: Total Stockholders' Equity = Assets - Liabilities

Q: A company's operating income (EBIT) for the year is OMR 200,000 and it has 5% Bonds of OMR 400,000.…

A: Net Income Approach EBIT xxx…

Q: 1. The following financial statement was prepared by Gibson Corporation's accountant. Adams…

Q: Ernst Company's balance sheet shows total liabilities of $32,500,000, total stockholders' equity of…

A: Introduction: Debt ratio: Division of Total Assets with Total liabilities derives the Debt ratio.

Q: A company has current assets of $560,000 and current liabilities of $233,000. The board of directors…

A: The current ratio measures the organization's ability to meet the short-term liabilities due within…

Q: The following information is available for Wildhorse Corporation for the year ended December 31,…

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: The balance sheets for Crosby Inc. and Gretzky Company reflect the following. Crosby Inc Gretzky…

A: For Crosby Inc. a. Total liabilities to equity ratio = (Current liabilities + long term…

Q: White Company’s assets total $780,000 and its owners’ equity consists of capital stock of…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: A firm has the following balance sheet and income statement numbers for 2020: Sales re venue $4,000…

A: The Net income is calculated from the Income statement. All the expenditure are deducted from the…

Q: The following information pertains to Marsh Company. Assume that all balance sheet amounts represent…

A: Given the following information: Total asset: $400,000 Stockholders' equity-common: $200,000 Total…

Q: Jensen Company had beginning Retained Earnings of $180,000 and Common Stock of $42,000. Jensen…

A: Ending retained earnings = Beginning retained earnings + Revenue - expenses - Dividend paid

Concept explainers

Procedural Coding: CPT and HCPCS

Computer hardware and accessories nowadays support various types of coding for a variety of purposes. Procedural coding is a straightforward process that combines several steps of a calculative sequence to achieve the desired result. It is a type of medical classification that aids in the identification of specific surgical, medical, or diagnostic procedures. It begins as soon as a patient enters the premises of a healthcare provider. These coding systems have significantly aided the process of insurance claims and billing.

Question

100%

Mcq help

Oman Company has a common stock of $5,500, a paid-in surplus of $8,200, total
liabilities of $6,600, current assets of $7,200, and fixed assets of $16,900. What
is the amount of the shareholders' equity?
O a. $10,300
O b. $13,700
c. $15,600
d. $17,500
e. $20,300
Des

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

During 20X2, Norton Company had the following transactions: a. Cash dividends of 20,000 were paid. b. Equipment was sold for 9,600. It had an original cost of 36,000 and a book value of 18,000. The loss is included in operating expenses. c. Land with a fair market value of 50,000 was acquired by issuing common stock with a par value of 12,000. d. One thousand shares of preferred stock (no par) were sold for 14 per share. Norton provided the following income statement (for 20X2) and comparative balance sheets: Required: Prepare a worksheet for Norton Company.
If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity is: A. $32,000. B. $(32,000). C. $(8000). D. $8,000.
Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of $134,800, selling expenses of $38,310, general and administrative expenses of $36,990, interest expense of $580, and income tax expense of $13,920. Hollys stockholders equity was $280,000 at the beginning of the year and $320,000 at the end of the year. The company has 20,000 shares of stock outstanding at the end of the year. Required Compute Hollys profit margin. What other information would you need in order to comment on whether this ratio is favorable?
Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital expenditures of $112,900, cash dividends of $35,800, and average maturities of long-term debt over the next 5 years of $122,300. What is Chasses free cash flow and cash flow adequacy ratio? a. $94,300 and 0.77, respectively c. $130,100 and 1.06, respectively b. $94,300 and 0.82, respectively d. $165,900 and 1.36, respectively
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the dividends paid to common stockholders for last year were 2,600,000 and that the market price per share of common stock is 51.50. Required: 1. Compute the dividends per share. 2. Compute the dividend yield. (Note: Round to two decimal places.) 3. Compute the dividend payout ratio. (Note: Round to two decimal places.)
Rebert Inc. showed the following balances for last year: Reberts net income for last year was 3,182,000. Refer to the information for Rebert Inc. above. Also, assume that the market price per share for Rebert is 51.50. Required: 1. Compute the dollar amount of preferred dividends. 2. Compute the number of common shares. 3. Compute earnings per share. (Note: Round to two decimals.) 4. Compute the price-earnings ratio. (Note: Round to the nearest whole number.)
Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total assets of $150,000. As of December 31, 20Y8, Sylvester has total liabilities of $200,000 and total stockholders’ equity of $400,000. (a) What was Sylvester’s stockholders’ equity as of January 1, 20Y8? (b) Assume that Sylvester did not pay any dividends during 20Y8. What was the amount of net income for 20Y8?
Comprehensive The following are Farrell Corporations balance sheets as of December 31, 2019, and 2018, and the statement of income and retained earnings for the year ended December 31, 2019: Additional information: a. On January 2, 2019, Farrell sold equipment costing 45,000, with a book value of 24,000, for 19,000 cash. b. On April 2, 2019, Farrell issued 1, 000 shares of common stock for 23,000 cash. c. On May 14, 2019, Farrell sold all of its treasury stock for 25,000 cash. d. On June 1, 2019, Farrell paid 50, 000 to retire bonds with a face value (and book value) of 50, 000. e. On July 2, 2019, Farrell purchased equipment for 63, 000 cash. f. On December 31, 2019, land with a fair market value of 150,000 was purchased through the issuance of a long-term note in the amount of 150,000. The note bears interest at the rate of 15% and is due on December 31, 2021. g. Deferred taxes payable represent temporary differences relating to the use of accelerated depreciation methods for income tax reporting and the straight-line method for financial statement reporting. Required: 1. Prepare a spreadsheet to support a statement of cash flows for Farrell for the year ended December 31, 2019, based on the preceding information. 2. Prepare the statement of cash flows. (Appendix 21.1) Spreadsheet and Statement Refer to the information for Farrell Corporation in P21-13. Required: 1. Using the direct method for operating cash flows, prepare a spreadsheet to support a 2019 statement of cash flows. (Hint: Combine the income statement and December 31, 2019, balance sheet items for the adjusted trial balance. Use a retained earnings balance of 291,000 in this adjusted trial balance.) 2. Prepare the statement of cash flows. (A separate schedule reconciling net income to cash provided by operating activities is not necessary.)
Comprehensive The following are Farrell Corporations balance sheets as of December 31, 2019, and 2018, and the statement of income and retained earnings for the year ended December 31, 2019: Additional information: a. On January 2, 2019, Farrell sold equipment costing 45,000, with a book value of 24,000, for 19,000 cash. b. On April 2, 2019, Farrell issued 1,000 shares of common stock for 23,000 cash. c. On May 14, 2019, Farrell sold all of its treasury stock for 25,000 cash. d. On June 1, 2019, Farrell paid 50,000 to retire bonds with a face value (and book value) of 50,000. e. On July 2, 2019, Farrell purchased equipment for 63,000 cash. f. On December 31, 2019. land with a fair market value of 150,000 was purchased through the issuance of a long-term note in the amount of 150,000. The note bears interest at the rate of 15% and is due on December 31, 2021. g. Deferred taxes payable represent temporary differences relating to the use of accelerated depreciation methods for income tax reporting and the straight-line method for financial statement reporting. Required: 1. Prepare a spreadsheet to support a statement of cash flows for Farrell for the year ended December 31, 2019, based on the preceding information. 2. Prepare the statement of cash flows.
The income statement, statement of retained earnings, and balance sheet for Somerville Company are as follows: Includes both state and federal taxes. Brief Exercise 15-20 Calculating the Average Common Stockholders Equity and the Return on Stockholders Equity Refer to the information for Somerville Company on the previous pages. Required: Note: Round answers to four decimal places. 1. Calculate the average common stockholders equity. 2. Calculate the return on stockholders equity.
Ernst Companys balance sheet shows total liabilities of 32,500,000, total stockholders equity of 8,125,000, and total assets of 40,625,000. Required: Note: Round answers to two decimal places. 1. Calculate the debt ratio. 2. Calculate the debt-to-equity ratio.