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
Virty [35]
3 years ago
11

Company's comparative balance sheet E(Click the icon to view the comparative balance sheet.) t January 31, 2019, and 2018, repor

ts the following The following are three situations related Bosley Company's issuance of stock and declaration and payment of dividends during the year ended January 31, 2019. Read the requirements Begin by reviewing the labels for the change in stockholders' equity and then enter the amounts for each situation. (Enter sign amount in each input area, Input a "0" when there i no amount to be entered. Enter amounts in millions. Use a minus numbers to be subtracted.) rparentheses when entering net losses o Situation #1 1 Total stockholders' equity, January 31, 2018 Add: Issuance of stock 5 Data Table 0 Net income Less: Dividends declared 2018 2019 Net loss Total stockholders' equity, January 31, 2019 Total assets 74 48 Total liabilities 23 17 Print Done iRequirements For each situation, use the accounting equation and what you know from the chapter about stockholders' equity, common stock, and retained earnings to calculate the amount of Bosley's net income or net loss during the year ended January 31, 2019.
1. Bosley issued $5 million of stock and declared no dividends.
2. Bosley issued no stock but declared dividends of $8 million.
3. Bosley issued $10 million of stock and declared dividends of $50 million
Business
1 answer:
frozen [14]3 years ago
4 0

Answer:

Bosley Company

Calculation of Net Income or Net Loss during the year ended January 31, 2019, under three independent situations:

Situation 1. Bosley issued $5 million of stock and declared no dividends.  

Net Loss = stockholders' equity, January 31, 2018 plus new issue of stock less stockholders' equity, January 31, 2019

= $51 + 5 - 31 = $25 million

Situation 2. Bosley issued no stock but declared dividends of $8 million.

Net loss = stockholders' equity, January 31, 2018 less (dividends + stockholders' equity, January 31, 2019)

= $51 - (8 + 31) = $12 million

Situation 3. Bosley issued $10 million of stock and declared dividends of $50 million :

Net income = (stockholders' equity, January 31, 2019 plus dividends) minus (stockholders' equity, January 31, 2018 plus Issuance of stock)

= ($31 + 50) - ($51 + 10) = $20 million

Explanation:

a) Data and Calculations:

                                         2018    2019

Total assets                         74       48  

Total liabilities                     23       17  

Total stockholders' equity  51       31

Stockholders' equity according to the accounting equation = Assets minus Liabilities for each year.

b) Situation 1. Bosley issued $5 million of stock and declared no dividends.  

                                                                       ($' million)

Total stockholders' equity, January 31, 2018   51

Add: Issuance of stock                                       5

Net income                                                           0

Less: Dividends declared                                   0

Net loss                                                            (25 )

Total stockholders' equity, January 31, 2019   31

Net Loss = stockholders' equity, January 31, 2018 plus new issue of stock less stockholders' equity, January 31, 2019

= $51 + 5 - 31 = $25 million

c) Situation 2. Bosley issued no stock but declared dividends of $8 million.  

                                                                       ($' million)

Total stockholders' equity, January 31, 2018   51

Add: Issuance of stock                                       0

Net income                                                          0

Less: Dividends declared                                 (8 )

Net loss                                                             (12 )

Total stockholders' equity, January 31, 2019  31

Net loss = stockholders' equity, January 31, 2018 less (dividends + stockholders' equity, January 31, 2019)

= $51 - (8 + 31) = $12 million

d) Situation 3. Bosley issued $10 million of stock and declared dividends of $50 million

                                                                    ($' million)

Total stockholders' equity, January 31, 2018  51

Add: Issuance of stock                                     10

Net income                                                       20

Less: Dividends declared                               (50 )

Net loss                                                              0

Total stockholders' equity, January 31, 2019 31

Net income = (stockholders' equity, January 31, 2019 plus dividends) minus (stockholders' equity, January 31, 2018 plus Issuance of stock)

= ($31 + 50) - ($51 + 10) = $20 million

You might be interested in
You have determined you want to buy an advanced hybrid vehicle, and a visit to ford's website has revealed that the ford fusion
Gre4nikov [31]

The answer is<u> " Information search".</u>


The Buyer Decision Processes are the decision-making processes by customers with respect to a potential market exchange previously, amid, and after the buy of an item or administration.  

Information search is viewed as the second of five phases that contain the Consumer Decision Process. Amid this stage, a customer who perceives a particular issue or need will then likely be induced to scan for data, regardless of whether it be inside or remotely. This is additionally when the client expects to look for the incentive in a planned item or administration. Amid this time, the choices accessible to the shopper are recognized or additionally cleared up.

8 0
3 years ago
Jeanine, the operations manager of an auto dealership, has been redesigning operations. She feels there are many places where th
Pachacha [2.7K]

Answer: If i am the general manager of the organization i will try to make a survey about customer relation in other competitive organization before i can conclude whether it is wise to cut down cost through removing giving out free gifts to customers like the free pop corn, coffee etc. Customers will choose other organizations where they can get the same quality service and other benefits especially in a perfectly competitive market. Rather i will suggest more profit can be made by slightly increasing the cost of services rendered to customers from which the cost of the freebies can be regained.

Explanation:Customer's satisfaction and profit maximization are the two main objectives of a firm. It is only when an organization is able to maintain good customer relationship with their customers that profit can be maximized regardless of how efficient their other services are.

4 0
3 years ago
Read 2 more answers
The financial ratio that indicates how efficiently the managers of the organization are collecting the revenue due to the organi
Marysya12 [62]
It is the Days sales outstanding ratio or the DSO ration. It can be computed to estimate the firms' average account receivable. It illustrates on how the firm's receivable will be managed. It is usually determine on an annual, monthly and quarterly basis.
4 0
3 years ago
Read 2 more answers
Smith Company reported pretax book income of $400,000. Included in the computation were favorable temporary differences of $50,0
Hoochie [10]

Answer:

$10,200

Explanation:

The computation of the deferred income tax expense or benefit is shown below:

Favorable temporary difference = $50,000

Less:  Unfavorable temporary difference -$20,000

Net favorable temporary difference $30,000

We assume the tax rate is of 34%

So, the deferred tax expense is

= $30,000 × 34%

= $10,200

By finding out the net favorable temporary difference and then multiplied with the tax rate we can get the deferred tax expense and the same is shown above

3 0
3 years ago
The U.S. Supreme Court has been deciding some cases involving Intellectual property rights (patents, trademarks, or copyrights),
Oxana [17]

Answer:

Explanation:

The article is "Copyright infringement and the Intellectual Property Complaints on Amazon. It was published on December, 12th 2018.

There has been an increase in the number of complaints about intellectual property violations and the copyright infringement at Amazon Inc. In order to counterfeit each other, sellers copy the features of each other’s products, thereby violating the intellectual property rights. Sellers have been filing complaints against one other at the company.

Amazon has also been trying hard to stop increasing cases of such liability litigations. Amazon has been removing any listing that has probability of copyright infringement. Sellers are also encouraged to take preventive actions when listing their products on the platform.

The adverse effects of copyright infringement on the overall society include:

• Copyright infringement can lower the quality of consumer goods. There will be lesser quality goods rather there'll be more of goods in terms of quantity.

• The overall economy will get impacted as there will be more legal cases. Legal penalties in society will also increase due to Sellers taking each others to court.

6 0
3 years ago
Other questions:
  • Total revenue equals A)price per unit times change in quantity sold. b)price per unit times quantity supplied. c)change in price
    15·1 answer
  • Which of the following statements is CORRECT?a. The discounted payback method eliminates all of the problems associated with the
    5·1 answer
  • On January 1, 20X1, Popular Creek Corporation organized SunTime Company as a subsidiary in Switzerland with an initial investmen
    7·1 answer
  • The ________ consists of systems analysts, specialists from the relevant end-user business areas, application programmers, and p
    6·1 answer
  • __________are increasingly popular becasue they can be both infromative and entertaining, and often the cost of airing of a 30-m
    8·1 answer
  • One employee is in charge of the following activities at a refreshment stand: Activity Activity Time per Customer Greet customer
    13·1 answer
  • Im unable to add more comments come here to chat now
    14·2 answers
  • Winston Enterprises would like to buy some additional land and build a new factory. The anticipated total cost is $175.86 millio
    7·1 answer
  • *WILL AWARD BRAINLIEST IF CORRECT!*
    7·1 answer
  • An honest effort to meet both the spirit and letter of the contract is termed Group of answer choices reasonable circumstances.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!