Z Company reports the following balance sheet information for 2014: 1 Jan 2014 31 Dec 2014 Assets

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

Question:

Z Company reports the following balance sheet information for 2014:
1 Jan 2014 31 Dec 2014
Assets $60,000 $70,000
Liabilities $12,000 $14,000

Assuming the capital contribution made by the owners during 2014 was $3,000 and withdrawals were $12,000, profit for 2014 must have been:

A. $12,000
B. $16,000
C. $14,000
D. $17,000

Related Book For answer-question

Essentials Of Corporate Finance

ISBN: 9780073405131

6th Edition

Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan

See More Books

Posted Date: Jul 17, 2022 12:36 AM

See More Questions

Assuming the following ratios are constant, what is the sustainable growth rate? Total asset turnover = 1.75 Profit margin = 8.3% Equity multiplier = 1.85 Payout ratio = 40% Bethesda Mining Company...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
Jen and Berry's sells ice-creams from its factory-shop in Petone. There is a managing director (Maynard Dibble), a marketing manager (Mary Salman) and a production manager (Peter Pritchard). Maynard...
In Problems 23 34, graph each system of linear inequalities. x - 2y 6 2x - 4y 0
You work for a drug manufacturing company that holds a patent on Hair Grow, the world most effective drug for restoring hair. Your job is to analyze the pricing and investment decisions facing the...
1. How engaged was Ecoist in analyzing the marketing environment before it launched its first company? At least one company has taken the old phrase "One man's trash is another man's treasure" and...
Bonds issued at a premium always have a. Interest expense equal to the interest payments b. Interest expense greater than the interest payments c. Interest expense less than the interest payments d....
On June 1, Fab Salad Dressings creates a petty cash fund with an imprest balance of $300. During June, Al Franklin, the fund custodian, signs the following petty cash tickets: On June 30, prior to...
Ventaz Corp manufactures small windows for back yard sheds.Historically, its demand has ranged from 30 to 50 windows per day with an average of 41. Alex is the one production worker and he works...
A survey of shopping habits found the percentage of respondents that use technology for shopping as shown in Figure 5.37. For example, 17.39% only use online coupons; 21.74% use online coupons and...
On January 3 0 , 2 0 X 4 , JPD Inc. purchased a bond at par. The bond has a face value of $ 5 0 0 , 0 0 0 , a stated rate of 8 % and a term of 3 years. The bond pays interest semi - annually on March...
Calculate the APR for a single-payment $1,000 loan for one year at 16 percent.
Lack of competitors in the market. Pressure from demanding customers and low-cost competition. Abundance of reliable suppliers. What is one of the challenges facing logistics and supply chain...
The inventory account is reduced by $36 to account for the returned defective items. what is the reason for this?
Question: Divide.(x2-81)(x+9)x-81x2-9x+81x-9 Divide. ( x2 - 8 1 ) ( x+ 9 ) x- 8 1 x2 - 9 x + 8 1 x -9 Divide. (x-81)+(x+9) x-81 Ox2-9 x+81 x-9
A company's common stock is expected to pay $2 in dividends annually over the next four years. At the end of the fourth year, its stock is expected to be valued at $45. If the firm's cost of equity...
What is the magnitude of the resultant vector? m What is the direction of the resultant vector? J 450015 Colound J 117020010 5.78m 51.7 62.7 8.08m B W+ N E
A city maintains a solid waste landfill that was 12 percent filled at the end of Year 1 and 26 percent filled at the end of Year 2. During those periods, the government estimated that total closure...
What price would you expect to pay for the Kenny Corp. bond? What is the bond's current yield?
Y3K, Inc., has sales of $9,980, total assets of $3,140, and a debt-equity ratio of 0.25. If its return on equity is 16 percent, what is its net income?
You bought a stock three months ago for $41.05 per share. They stock paid no dividends. The current share price is $46.81. What is the APR of your investment? The EAR?
Match list I with list II and select the correct answer using the codes given below the lists. (Notations have their usual meanings): sin 0 2n List I A. Law of correct steering B. Displacement...
Force required to accelerate a cylindrical body which rolls without slipping on a horizontal plane (mass of cylindrical body is $m$, radius of the cylindrical surface in contact with plane is...
Consider the following statements regarding motions in machines: 1). Tangential acceleration is a function of angular velocity and the radial acceleration is a function of angular acceleration. 2)....

Z Company reports the following balance sheet information for 2014: 1 Jan 2014 31 Dec 2014 Assets

Question:

Expert Answer:

Solution We know that the basic accounting equation is as Assets Liabilities Equity On January 1 201... View the full answer

Essentials Of Corporate Finance

Students also viewed these economics questions