Saira's Maid Service began the year with total assets of $120,000 and stockholders' equity of $40,000. During the year the company earned $90,000 in net income and paid $20,000 in dividends. The company did not issue any additional shares of stock during the year. Total assets at the end of the year were $215,000. How much was stockholders' equity at the end of the year?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Saira's Maid Service began the year with total assets of $120,000 and stockholders' equity of $40,000. During the year the company earned ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
After determining that his computer is no longer working, and that he needs a working computer, jeff is most likely in which stage of the buying decision process?
Answers (2)
On average, about 3,500 new mobile homes are sold every month at an average price of $40,000. In 2013 average income in the United States rose and, all else equal, mobile home sales decreased.
Answers (1)
A manager recently instituted a required retraining program to attempt to increase output by employees with out any additional increase in capital. Any increase in output would be associated with which of the following economic terms?
Answers (1)
The first use of evaluation is focused upon: Group of answer choices the development of a marketing plan. the likely success of the product concept that has been selected for development. mistakes made during the launch of the new product.
Answers (1)
What section of the Constitution is the basis for most laws governing business transactions, and what does that section provide?
Answers (1)
New Questions in Business
Roger Technologies invests $50,000 to acquire $50,000 face value, 8%, five-year corporate bonds on January 2, 2017. The bonds will mature on January 2, 2022. The bonds pay interest semiannually on January 2 and July 2 each year until maturity.
Answers (1)
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $195,000 and Total Liabilities of $75,000. During the year, the company reported total revenues of $226,000 and expenses of $175,000.
Answers (1)
Company X failed to record (accrue) $5,000,000 of vendor invoices and warranty liability at year-end. With this omission, the company's summary financial statements were stated as follows:Summarized Income StatementSales $50,000,000All Cost (incl.
Answers (1)
Levine Company uses the perpetual inventory system. Apr. 8 Sold merchandise for $8,600 (that had cost $6,355) and accepted the customer's Suntrust Bank Card. Suntrust charges a 4% fee.
Answers (1)
G. R. Edwin Inc. had sales of $6.02 million during the past year. The cost of goods sold amounted to $3.06 million. Operating expenses totaled $2.65 million, and interest expense was $27 comma 000.
Answers (1)