Question: answer this Multiple Choice Question ) Gem Corporation is a new company and obtains financing by issuing common stock to investors for $30,000. During the

answer this

answer this Multiple Choice Question ) Gem
Multiple Choice Question ) Gem Corporation is a new company and obtains financing by issuing common stock to investors for $30,000. During the year, Gem earns $8,000 in net income and pays stockholders a dividend of $5,000. What is the total stockholders' equity at the end of the year? O $43,000 O $33,000 O $27,000 O $38,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Gem Corporation is a new company and obtains financing by issuing common stock to investors for $30,000. During the year, Gem earns $8,000 in net income and pays stockholders a dividend of $5,000....

Q:

can i please have the answers for this questions thank you Multiple Choice Question 28 The assumption of arm's-length transaction states that: a. both parties to a transaction can act independently...

Q:

Each separate response must have approximately 200 words. Assignments vary widely; however, essays should be written in APA style, with in-text citations and a separate reference listing as...

Q:

Each separate response must have approximately 200 words. Assignments vary widely; however, essays should be written in APA style, with in-text citations and a separate reference listing as...

Q:

Each separate response must have approximately 200 words. Assignments vary widely; however, essays should be written in APA style, with in-text citations and a separate reference listing as...

Q:

Multiple Choice Question 104 Marigold Corp.'s accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $310000 $260000 Work in process inventory...

Q:

Multiple Choice Question 104 Marigold Corp.'s accounting records reflect the following inventories: Dec. 31, 2020 Dec. 31, 2019 Raw materials inventory $310000 $260000 Work in process inventory...

Q:

This is a comprehensive project. I do believe it is worth more than 8 dollars, so whomever excepts it I will post 2 more questions after that i will accept any answer for. This was you get $24 for...

Q:

can i please have the answers for the questions please Multiple Choice Question 22 An economy with a large flow of funds requires: a. a frictionless market. b. a lot of gold reserves. c. an efficient...

Q:

Using disclosures made in the 2015 Woolworths Annual Report, 2015 Woolworths CSR Report or current website for Woolworths (http://www.woolworthslimited.com.au) identify and provide 4 examples where...

Q:

Merck is one of the largest pharmaceutical firms in the world, and over an extended period of time in the recent past, it consistently earned higher ROEs than the pharmaceutical industry as a whole....

Q:

Ecology Labs Inc. will pay a dividend of $6.40 per share in the next 12 months (D1). The required rate of return (Ke) is 14 percent and the constant growth rate is 5 percent. a. Compute P0. (For...

Q:

Who is responsible for identifying accounts approaching or exceeding predetermined credit limits in the hotel industry

Q:

Pharoah Company reported the following amounts for 2022: Raw materials purchased $95,200 Beginning raw materials inventory 5,824 Ending raw materials inventory 5,040 Beginning finished goods...