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Leya [2.2K]
3 years ago
10

Total assets were $78,000 and total liabilities were $42,000 at the beginning of the year. Net income for the year was $15,500,

and dividends of $5,000 were declared and paid during the year.
Required:
Calculate total stockholders' equity at the end of the year.
Business
1 answer:
Vaselesa [24]3 years ago
6 0

Answer:

$46,500

Explanation:

Accounting equation is stated as :

Assets = Equity + Liabilities

therefore,

Equity = Assets - Liabilities

Equity at Beginning of the Period :

Equity = Assets - Liabilities

           = $78,000 - $42,000

           = $36,000

Equity at end of the Period

Closing Equity Balance = Opening Balance + Net Income - Dividends

                                       = $36,000 + $15,500 - $5,000

                                       = $46,500

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A 10K financial report include which of the following financial statements (need help asap!!!)​
Yuki888 [10]

A 10-K is just a <u>more detailed Annual Report</u>, without the visuals.

They includes info regarding the company and it's <u>financial performance</u> over the <u>last year</u>.

<u>Balance Sheet's</u> are <u>financial statements</u> that report a company's assets, liabilities, and equities at a <u>specific point in time</u>.

Therefore, we can conclude that 10-K reports include Balance Sheets

3 0
3 years ago
Three examples of capital as a factor of production, and explain how it is different from land?
Morgarella [4.7K]
<span>Capital as a factor of production is defined as the tangible products made by labor.
</span>Land as a factor of production means not just the surface of the earth, but everything in the universe that wasn't created by people. This includes all natural resources, such as air, water, plants, sunlight, rocks, and minerals. 
Examples:
1) Clothes ( because you have to be clothed)
2) Milk ( you immediately want to consume it)
3) Wine ( grapes go in wine comes out) 
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4 0
3 years ago
Read 2 more answers
Darth Company sells three products. Sales and contribution margin ratios for the three products follow:
lukranit [14]

Answer:

C. 31.25%.

Explanation:

PRODUCTS                   X               Y                 Z               Total

Sales in dollars         $20,000   $40,000   $100,000     $160,000

CM ratio                     45%              40%           25%

Contribution margin ratio can be calculated by weighted average method base on the sales ratio of each product.

Contribution margin as a whole = ( CM ratio of X x Ratio of X in total sales ) + ( CM ratio of Y x Ratio of Y in total sales ) + ( CM ratio of Z x Ratio of Z in total sales )

Contribution margin as a whole = ( 45% x $20,000 / $160,000 ) + ( 40% x $40,000 / $160,000 ) + ( 25% x $100,000 / $160,000 )

Contribution margin as a whole = 5.625% + 10% + 15.625% = 31.25%

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Exotic Engine Shop uses a job order cost system to determine the cost of performing engine repair work. Estimated costs and expe
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Answer:

See bekow

Explanation:

Number of direct labor hours = 555,000 / 15 = 37,000

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3 0
3 years ago
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