Javis Company had total assets of $340,000 and total shareholders equity of $130,000 at the beginning of

Question:

Javis Company had total assets of $340,000 and total shareholders’ equity of $130,000 at the beginning of the year. During the year assets increased by $70,000 and liabilities increased by $25,000. Shareholders’ equity at the end of the year is:

a. $95,000

c. $200,000

b. $175,000

d. $155,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting International Financial Reporting Standards

ISBN: 9780273777809

1st Global Edition

Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy

See More Books

Question Posted: Jul 25, 2024 11:01 AM

See More Questions

The stator of a 220-V, 60-Hz induction motor has 12-turn coils. You wish to re-wound it for working at 380-V, 50-Hz. While maintaining the flux same as of original motor, calculate the number of...
The design and effective capacities for a local paper manufacturer are 1000 and 600 pounds of paper per day, respectively. At present, the manufacturer is producing 500 pounds per day. Compute...
Job 87M had direct material costs of $400 and a total cost of $2,100. Overhead is allocated at the rate of 75% of prime cost (direct material and direct labor). REQUIRED A. How much direct labor was...
3. Suppose that your company has an equity position in a French firm. Discuss the condition under which dollar/euro exchange rate uncertainty does not constitute exchange exposure for your company.
Shown below is the liabilities and stockholders' equity section of the balance sheet for Jana Kingston Company and Mary Ann Benson Company. Each has assets totaling $4,200,000. For the year each...
Queen Productions performs London shows. The average show sells 1,300 tickets at $60 per ticket. There are 160 shows per year. No additional shows can be held as the theater is also used by other...
1. 2. Were you assigned specific tasks or left on your own to decide what to do?
1. 3. Were promotions based strictly on qualifications, as Weber suggested? What other factors may have been considered?
Why do firms measure profit? LO8
Your company just secured an $6 million contract with a major public-sector client that is expected to generate thousands of jobs over the next 10 years. Describe the scenario as a blog.
Dr. John Gottman's research has been able to accurately predict divorce more than 90% of the time.By carefully studying how couples interact with each other, he identified what are known as "The Four...
Adult Sleep Times (hours) of sleep for randomly selected adult subjects included in the National Health and Nutrition Examination Study are listed below. Here are the statistics for this sample: n =...
For high-energy electron diffraction in a TEM, another estimate of the precision of diffraction angles can be provided by the uncertainty principle: px We do not know the specific plane that scatters...
Exhibit 12: Average Credit Quality Ratios [1] Based on this information you can compare O&Rs financial ratios to the average debt rating ratios above to assess what O&Rs credit rating would be if it...
The tank of water in Fig P2.143 is full and open to the atmosphere (patm = 15 psi = 2160 psf) at point A, as shown. For what acceleration ax, in ft/s2, will the pressure at point B in the figure be...
The May 2014 revenue and cost information for Houston Outfitters, Inc. follow: Sales Revenue (at standard).............. $ 540,000 Cost of Goods Sold (at standard) ..........341,000 Direct Materials...

Javis Company had total assets of $340,000 and total shareholders equity of $130,000 at the beginning of

Question:

Step by Step Answer:

Financial Accounting International Financial Reporting Standards

Students also viewed these Business questions