RUFF SANDPAPER CO. Balance Sheets For the Years Ended 2010 and 2011 2011 2010 __
ID: 2674872 • Letter: R
Question
RUFF SANDPAPER CO.Balance Sheets
For the Years Ended 2010 and 2011
2011 2010
___________________________________________________________________
Assets
Cash 800 600
Marketable securities 200 200
Accounts receivable 1,200 1,000
Inventories 2,000 1,800
Gross fixed assets 3,000 2,800
Less Accumulated Depreciation 1,000 800
Net fixed assets 2,000 2,000
_____ _____
Total assets 6,200 5,600
===== =====
Liabilities
Accounts payable 200 100
Notes payable 800 900
Accruals 100 100
Long term debt 2,000 1,500
Stockholders' equity
Common stock at par 500 500
Paid in capital in excess of par 2,000 2,000
Retained earnings 600 500
_____ _____
Total liabilities and equity 6,200 5,600
===== =====
Net profits after taxes for 2008: $150.00
10) Common stock dividends paid in 2011 amounted to __________.
Explanation / Answer
Formula Beginning Retained Earnings 600 Add: Net Income 150 Less:Ending Retained Earnings 500 Dividends Paid 250
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.