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valentinak56 [21]
3 years ago
10

On January 1, ABC started the year with a $400,000 balance in Retained Earnings and a $550,000 balance in Common Stock. During t

he year, the company reported net loss of $25,000, paid a dividend of $15,000, and issued more common stock for $30,500. What is total stockholders' equity at the end of the year?
Business
1 answer:
Marysya12 [62]3 years ago
7 0

Answer:

The total stockholders' equity at the end of the year is $940,500 ($360,000 +  580,500).

Explanation:

The total stockholders' equity is an element of the balance sheet that comprises retained earnings and share capital (common stock) and share premium. Retained earnings is the accumulation of net income (loss) over the years. The changes in total stockholders' equity at the end of the year are as follows:

ABC

Extract from the statement of changes in equity

                                  Retained earnings             Common stock

Opening balance                $400,000                    $550,000

Net loss                                ($25,000)                                -

Dividend paid                       ($15,000)                                -

Common stock issued                  -                             $30,500

Total stockholders' equity  $360,000                      580,500

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Answer:

a. Sometimes candidates unpopular with the party leadership reach the top.

Explanation:

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In this manner, the candidates who are not even belonging to some recognized or popular parties are in leadership as their individual speech is too alluring to the people present for voting that they vote for that specific candidate.

Thus, the correct answer is:

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3 years ago
The Latimore Company invested $8.5 million in a new plant in Italy when the exchange rate was 1.1500 euros to the dollar. At the
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5 0
1 year ago
On April 30, 2017, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, w
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