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salantis [7]
3 years ago
6

Donnie Hilfiger has the following balances in its stockholders' equity accounts on December 31, 2015: Treasury Stock, $400,000;

Common Stock, $350,000; Preferred Stock, $1,000,000; Retained Earnings, $1,600,000; and Additional Paid-in Capital, $3,200,000.
Prepare the stockholders' equity section of the balance sheet for Donnie Hilfiger as of December 31, 2015. (Amounts to be deducted should be indicated with a minus sign.)

DONNIE HILFIGER
Balance Sheet
(Stockholders' Equity Section)
December 31, 2015
Stockholders' equity:
Total paid-in capital
Total stockholders' equity
Business
1 answer:
Nana76 [90]3 years ago
3 0

Answer:

Explanation:

The preparation of the stockholders' equity section of the balance sheet for Donnie Hilfiger as of December 31, 2015 is presented below:

                                                DONNIE HILFIGER

                                                     Balance Sheet

                                         (Stockholders' Equity Section)

                                          As of December 31, 2015

Common stock $350,000

Preferred stock $1,000,000

Additional paid in capital $3,200,000

Total paid in capital $4,550,000

Retained earnings $,1600,000

Total  $6,150,000

Less: Treasury stock - $400,000

Total Stock holders equity $5,750,000

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Answer:

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Explanation:

This is a one-time cashflow type of question where the principal amount is invested once and no other addition is made to the account. You use the future value formula to solve the result of the compounding effect at year 3.

FV formula;

FV = PV(1+r)^n

PV = 800

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therefore; FV = 800(1+0.12)^3

FV = 800 * 1.404928

FV = 1123.94

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6 0
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6 0
3 years ago
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Answer:

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You plan to invest $600 in your savings account this year and then you intend to increase the amount that you invest by 3% each
koban [17]

Answer:

The correct answer is $20,211.84.

Explanation:

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Hence, the correct answer is $20,211.84.

7 0
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