Ming Company has stockholders equity of $400,000 and net income of $68,000. It has a payout ratio
Question:
Ming Company has stockholders’ equity of $400,000 and net income of $68,000. It has a payout ratio of 20% and a rate of return on assets of 16%. How much did Ming pay in cash dividends, and what were its average assets?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (11 reviews)
Payout ratio 20 X 68000 20 13600 Ca...View the full answer
Answered By
Susan Juma
I'm available and reachable 24/7. I have high experience in helping students with their assignments, proposals, and dissertations. Most importantly, I'm a professional accountant and I can handle all kinds of accounting and finance problems.
4.40+
15+ Reviews
45+ Question Solved
Related Book For
Managerial Accounting Tools for business decision making
ISBN: 978-1118096895
6th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Managerial Accounting questions
-
How much did Husky pay in cash as dividends to common shareholders in 2011? How much did it declare in dividends in 2011? Why are the amounts different? Why are dividends not included in the...
-
Hollie Company has stockholders equity of $400,000 and net income of $72,000. It has a payout ratio of 18% and a return on assets of 20%. How much did Hollie pay in cash dividends, and what were its...
-
Gladow Company has stockholders equity of $400,000 and net income of $66,000. It has a payout ratio of 20% and a rate of return on assets of 15%. How much did Gladow pay in cash dividends, and what...
-
Discuss the seven contemporary communication issues facing managers.
-
Before incorporating her apartment rental business, Libbie takes out second mortgages on several of the units. She uses the mortgage proceeds to make capital improvements to the units. Along with all...
-
The following information has been gathered for Ivanhoe Security for the month ended September 30, 2024: 1. The bank statement indicates a balance of $16,220. 2. The general ledger cash account...
-
TED Talks are influential videos of expert speakers on education, business, science, technology and creativity. Visit:...
-
Angela Walsh is a new staff auditor. On her first three engagements, she was assigned to perform tests of controls for acquisitions and payments and test of details of balances for accounts payable....
-
A long straight current-carrying wire runs from north to south. A compass needle is placed above the wire points with its N-pole toward the east. In what direction is the current flowing? If a...
-
Answer- Mike Greenberg opened Swifty Window Washing Co. on July 1, 2020. During July, the following transactions were completed. July 1 Owner invested $14,200 cash in the company. 1 Purchased used...
-
The following data are from the income statements of Charles Company. (a) Compute for each year (1) the inventory turnover and (2) the average days to sell the inventory. (b) What conclusions...
-
An inexperienced accountant for Reeves Corporation showed the following in the income statement: income before income taxes and extraordinary item $500,000, and extraordinary loss from flood (before...
-
Explain why the read-committed isolation level ensures that schedules are cascade-free.
-
Duddy Kravitz owns the Saint Viateur Bagel store. His world famous bagels are hand rolled, boiled and then baked in a wood - burning oven. Uncle Benjy thinks that the wood oven should be replaced by...
-
# 1 Average Velocity Mat and Tam embark on a weekend journey with four stages. First, they drove due East for exactly two and a half hours at a speed of 8 0 kilometers per hour. Then, they visited a...
-
Part One: Identify the following Technical Specifications (Tech Specs) of the Chicago Pile number 1 (CP-1) reactor: 1. Thermal power in Watts(thermal), Wth. 2. Fuel material 3. Moderator material 4....
-
The spring of a spring balance is 9 . 0 cm long when there is no weight on the balance, and it is 1 0 . 5 cm long with 6 . 0 N hung from the balance. How much work is done in stretching the spring...
-
Suppose a gas is taken clockwise around a rectangular thermodynamics cycle. It goes from b , a , d , c and return to b . The following parameter are given: Q a to c = - 1 0 0 J , W a to c = - 6 0 J ,...
-
Explain the impact of corporate and personal taxes on the M&M Propositions.
-
Tarick Toys Company manufactures video game consoles and accounts for product costs using process costing. The following information is available regarding its June inventories. The following...
-
Consider the following system of gas-phase reactions: AXrX=k1CA1/2k1=0.004(mol/dm3)1/2min1ABrB=k2CAk2=0.3 min1AYrY=k3CA2k3=0.25 dm3/molmin B is the desired product, and X and Y are foul pollutants...
-
Leab Company installed a standard cost system on January 1. Selected transactions for the month of January are as follows. 1. Purchased 18,000 units of raw materials on account at a cost of $4.50 per...
-
Tsar Company uses a standard cost accounting system. Some of the ledger account have been destroyed in a fire. The controller asks your help in reconstructing some missing entries and balances....
-
Data for Injin Inc. are given in E25-7. Instructions Journalize the entries to record the materials and labor variances.
-
Two charges, q=43.5 nC and qB=-25.5 nC are placed as shown in the picture. y [m] + 9 B P 9A 1 0-1- x [m] What is the magnitude of the net electric field at point P? Provide your answer in N/C, use at...
-
Simplify. 9u6x4 4 3 3wx +9x
-
Majesty Company uses target costing to ensure that its products are profitable. Assume Majesty is planning to introduce a new product with the following estimates: Annual demand Estimated market...
Study smarter with the SolutionInn App