hrd.3 Problem 1-75B (Algorithmic)Statements of Retained EarningsThe table below presents the statements of retained earnings for Labelle Corporation for 3 successive years. Certain numbers are missing.Required:Use your understanding of the relationship between successive statements of retained earnings to calculate the missing values.Retained earnings, beginningAdd: Net incomeLess: DividendsRetained earnings, endingA2020tA11,100$30,000(7,400)2021$22,600AA(5,200)2022$27,2509,500tA$34,100

To compute the following figures, use this formula: Retained earnings, beginning + Net income -…

Answered: Problem 1-75B (Algorithmic) Statements…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 53BE

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Refer to the data below. Retained earnings, December 31, 2020 $ 416,840 Net decrease in total assets during 2020 63,580 Net increase in accounts receivable in 2020 14,620 Dividends declared and paid in 2020 57,120 Proceeds from issuance of bonds during 2020 150,280 Net loss for the year ended December 31, 2020 39,100 Required:From the above data, calculate the Retained Earnings balance as of December 31, 2019:
The following information pertains to BTS Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?
Extract of Balance sheet items as at 31 December 2019 Net loss (7250) Dividends income 1,000 Opening stock 27800 Accounts payable 18000 Accounts receivable 123000 Prepaid expense 25100 Rental revenue 5200 Drawings 1450 Interest Income 8540 Capital 137900 Retained earnings 22700 Calculate Owners Equity Select one: a. None of these b. 160600 OMR c. 153350 OMR d. 151900 OMR
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The following information pertains to BT21 Co. for the year.· Net assets, Jan.1, 2021- P1,008,480· Net assets, Dec. 31. 2021- P2,112,960· Share capital issued in 2021- P335,520· Dividends declared in 2021- P195,120How much is the profit (loss)?
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Question 2Alex is currently considering to invest his money in one of the companies between Company A and Company B. The summarized final accounts of the companies for their last completed financial year are as follows: a. Calculate the following ratios for Company A and Company B. State clearly the formulae used for each ratio: i. Gross Profit Marginii. Net Profit Marginiii. Inventory Turnover Period (days)iv. Receivables Collection Period (days)
Preview File Edit View V mgt120h-j17.pdf Page 8 of 10 Go Tools U Window Help ₁ V d. Company D has revenue of $783,000 and net income of $21,000 after income tax expense of $17,000. What do its other expenses total? ● For this year, Company E has net income of $43,000 and declared a dividend of $11,000. The company's beginning retained earnings totalled $217,000. At the end of the year, the company had current assets of $387,000, noncurrent assets of $414,000, current liabilities of $205,000, and share capital of $181,000. The company decides to borrow a long-term loan (long-term bond) for cash in order to raise its working capital to $250,000. Working capital is current assets minus current liabilities. Currently, working capital is $182,000 ($387,000 - 205,000). If it does so, what will the total noncurrent liabilities be? Search ((. Ơ ០១ Sat Apr 15 2:58 PM
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Ch: Analyzing Financial Statements The current year financial statement for sand and Juffair companies are presented below. Balance sheet at 31 Dec 2019 Item Cash Account receivable (net) Inventory Property & equipment (net) Other assets Total assets Current liabilities Long-term debt (interest rate: 10%) Capital stock ($10 par value) Additional paid-in capital Retained earnings Total liabilities and stockholders' equity Income statement at 31 Dec 2019 item Sales revenue (1/3 on credit) (-) Cost of goods sold (-) Operating expenses Net income Other data item Per share stock price at end of current year Average income tax rate Dividends declared and paid in current year Sand 45000 45000 95000 160000 90000 435000 95000 75000 155000 40000 70000 435000 Sand 440000 230000 159000 51000 Sand 23 30% 34000 Juffair 22000 35000 45000 415000 320000 837000 65000 65000 522000 110000 75000 837000 Juffair 800000 399000 315000 86000 Juffair 25 30% 153000 Both companies are in the fish catching and…

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