1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Murljashka [212]
3 years ago
13

Exercise 1-7A Prepare a statement of stockholders' equity (LO1-3) At the beginning of the year (January 1), Buffalo Drilling has

$12,000 of common stock outstanding and retained earnings of $7,400. During the year, Buffalo reports net income of $7,700 and pays dividends of $2,400. In addition, Buffalo issues additional common stock for $7,200. Required: Prepare the statement of stockholders' equity at the end of the year (December 31).
Business
1 answer:
Zina [86]3 years ago
3 0

Answer:

See below

Explanation:

Statement of stockholder's equity at the end of the year 31, December.

•Retained earning

Opening balance

$7,400

Income for the year

$7,700

Dividend paid

($2,400)

Common stock issuance

------------

End of year balance

$12,700

•Common stock

Opening balance

[$12,000 + $7,400]

$19,400

Income for the year

$7,700

Dividend paid

($2,400)

Common stock issuance

$7,200

End of year balance

$31,900

= $31,900 - $12,700

= $19,200

You might be interested in
Scarcity is imposed on individual households in the form of income and Select one: a. limited production. b. utility. c. sunk co
Korolek [52]

Answer:

Option D

Explanation:

In simple words, scarcity refers to the phenomenon under which a commodity is available in a limited quantity and not all individual gets to enjoy the utility it has.

The main reason behind scarcity is the limited availability of the resources due to which the production is also limited. An individual consumer gets to take this burden in the form of high prices of such limited commodity.

5 0
3 years ago
he Steel Mill is currently operating at 84 percent of capacity. Annual sales are $28,400 and net income is $2,250. The firm has
nignag [31]

Answer:

-911.51 the debt will decrease if sales increase 12%

Explanation:

sales: 28,400

increase of 12%

new sales:  31,808

<em><u>profirt margin:</u></em>

2,250/28,400 = 0.0792 = 7.92%

income: 31,808 x 7.92% = 2,519.19

retained earnigns grow: (1-payout ratio) = 0.6

2,519.19 x 60% =  1,511.514‬

Increase in working capital: 5,000 x 12% = 600

Asset requirement - reteined earnigns grow = financial needs

600 - 1,511.51 = -911.51

8 0
3 years ago
A company reports the amounts below in its statement of cash flows.
ludmilkaskok [199]

Answer:

C. 1.20

Explanation:

The total net cash flow consist of net cash flows from 3 activities namely; Operating activities, Investing activities and Financing activities.

Let the cash flows from operating activities be y

Therefore,

123,000  = y + 66,480  + 30,780  

y = 123,000 - 66,480  - 30,780  

y = 25,740

Current liabilities = (23,400 + 19,500)/2

                            = 21450

The company's operating cash flows to current liabilities ratio

= 25,740 /21450

= 1.20

3 0
3 years ago
How does management use coded data for decision support
Natasha_Volkova [10]

Answer:

<u>yes</u>

<u>Explanation:</u>

Decision making involves a carefully thought out process about the best course of action, and medical staffs often rely on them in their decision making.

For example, medical staff can evaluate the quality and efficiency of the care they provide by monitoring negative tends that may appear on coded data, Meanwhile management can use their findings from coded data to draft out better health policies for their organization.

3 0
4 years ago
Normally you will see US Labor Productivity Increasing at an annual rate of around 6%. In reading the book you should see that i
olganol [36]

Answer: c)  Employees are fearful of losing their jobs, so they are working harder and complaining less.

Explanation:

Research has shown that during periods of recession, people tend to work harder than they do before the recession which has the effect of boosting productivity levels during that period.

The simply reason for this is, fear. In a recession, businesses come under a lot of pressure to reduce their workforce in order to save costs which leads to a rise in unemployment. Workers that are laid off are usually the unproductive ones so workers begin to put in more work during this time so that they do not get laid off.

4 0
3 years ago
Other questions:
  • If revenues exceed expenses for the accounting period, the retained earnings account: a. Will have a lower balance after closing
    14·1 answer
  • Why can only the house of representatives introduce tax bills?
    11·1 answer
  • Standard Cost Journal Entries Bellingham Company produced 15,000 units that require 2.5 standard pounds per unit at a $3.75 stan
    5·1 answer
  • Starbucks discovered through marketing research that 30% of consumers buy over 90% of all coffee drinks. If Starbucks used this
    11·1 answer
  • Following are the transactions of Sustain Company.
    13·1 answer
  • In order to build a _____ organization, managers must build a commitment to learning, work to generate ideas with impact, and wo
    14·1 answer
  • What happens in one sector of the economy often affects other sectors of the economy.
    15·2 answers
  • The Oxford Company uses a job order cost system and applies factory overhead to jobs on the basis of direct labor cost. During t
    7·1 answer
  • Lulu trucking ( LT) scenario
    14·1 answer
  • What are the Principal's of Management..??​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!