1. Olivia Greer is a partner at Made for You. An analysis of Greer's capital account indicates that during the most recent year, she withdrew $31,000 from the partnership. Her share of the partnership's net loss was $21,500, and she made an additional capital contribution of $21,000. Her capital account ended the year at $161,000. What was her principal balance at the beginning of the year?

2. 

The following information is available about TGR Enterprises, a partnership, for the most recent fiscal year:

Total capital of the company at the beginning of the year	$156,000
Net profit of the company for the year	$126,000
Partner withdrawals during the year	$66,000
Additional partner investments during the year	$36,000

There are three partners at TGR Enterprises: Tracey, Gregory, and Rodgers. At the end of the year, the partners' capital accounts were in a 2:1:2 ratio, respectively. 

Calculate the ending principal balances of the three partners.

3. A business had a beginning balance in retained earnings of $43,900. It had net income of $6,900 and paid cash dividends of $5,850 in the current period. What will be the final balance of retained earnings?

4. A company has net income of $930,000; its weighted average number of common shares outstanding is 186,000. Its dividend per share is $0.75, its market price per share is $94, and its book value per share is $85.00.  Calculate its price-earnings ratio.

5. A company has earnings per share of $8.60. Its dividend per share is $1.55, its market price per share is $98.90, and its book value per share is $75. Calculate its price-earnings ratio.

Answer rating: 100% (QA)

1 To calculate Olivia Greers principal balance at the beginning of the year we can use the following ... View the full answer