Balance Sheet Changes
Not what you're looking for?
This table presents the long-term liabilities and stockholders' equity of one year ago:
Long-term debt: $50,000,000
Preferred stock: $30,000,000
Common stock: $100,000,000
Retained earnings: $20,000,000
During the past year, the company issued $10 million of new common stock. The firm generated $5 million of net income and paid $3 million of dividends. Construct today's balance sheet (using Microsoft Excel) reflecting the changes that occurred in the company during the year.
Purchase this Solution
Solution Summary
This solution calculates the changes in equity and long-term debt based on activities during the year.
Purchase this Solution
Free BrainMass Quizzes
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.