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3 years ago

Use the following information:

Business

1 answer:

seraphim [82]3 years ago

6 0

Answer:

Windswept, Inc.

The total dividends paid for 2017 is:

= $556.

Explanation:

a) Data and Calculations:

Windswept, Inc.

Income Statement for the year ended December 31, 2017:

Net Sales $9,740

Cost of goods sold 7,910

Depreciation 480

Earnings before interest and taxes $1,350

Interest paid 110

Taxable income $1,240

Taxes 434

Net income $806

Windswept, Inc.

2016 and 2017 Balance Sheets ($ in millions)

2016 2017 2016 2017

Cash $260 $290 Accounts payable $1,490 $1,460

Accounts rec. 1,060 960 Long-term debt 1,130 1,330

Inventory 1,900 1,740 Common stock 3,400 3,340

Total $3,220 $2,990 Retained earnings 670 920

Net fixed assets 3,470 4,060

Total assets $6,690 $7,050 Total liab. & equity $6,690 $7,050

The total dividends paid for 2017:

Retained earnings, Dec. 31, 2016 $670

Net income for the year, 2017 806

Less Retained earnings, Dec. 31, 2017 920

Dividends paid $556

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Answer:

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3 years ago

Oriole Company has a balance in its Accounts Payable control account of $8,170 on January 1, 2020. The subsidiary ledger contain

dem82 [27]

Complete question:

Oriole Company has a balance in its Accounts Payable control account of $8,170 on January 1, 2020. The subsidiary ledger contains three accounts: Hale Company, balance $2,550; Janish Company, balance $1,580; and Valdez Company. During January, the following payable-related transactions occurred.

Purchases Payments Returns

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Janish Company 5,066 2,087 2,215

Valdez Company 6,647 6,790 -0-

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Balances in the subsidiary accounts Bixler $ Cuddyer $ Freeze$

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Solution:

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8,170 - 2,550 - 1,580 = 4040

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3 years ago

A corporation sold 11,000 shares of its $10 par value common stock at a cash price of $14 per share. The entry to record this tr

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Answer:

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