Dynamic Production Services started the year with total assets of $ 130 comma 000 and total liabilities of $ 50 comma 000. The revenues and the expenses for the year amounted to $ 140 comma 000 and $ 50 comma 000 , respectively. During the year, the company did not issue any common stock, but it distributed dividends of $ 45 comma 000. Calculate Dynamic's net income for the year.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Dynamic Production Services started the year with total assets of $ 130 comma 000 and total liabilities of $ 50 comma 000. The revenues and ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
During the year, a corporation declares a dividend and subsequently distributes to a stockholder $15,000 in cash and a bond with a basis of $25,000 and a fair market value of $26,000 on the date of distribution.
Answers (1)
A cost which remains constant per unit at various levels of activity is a:
Answers (1)
At the beginning of 2013, Barcroft Co. estimated that its total annual fixed overhead costs would amount to $25,000. Further, Barcroft estimated that its volume of production would be 2,000 units of product.
Answers (1)
Lenox China Co. would like to get its annual Christmas ornament series into Macy's department stores. Macy's has a buying office in New York City that makes decisions on its giftware buys.
Answers (1)
Which of the following mortgages would you prefer to hold if you were a lender and you expected inflation of uncertain magnitude? A. Conventional fixed-rate mortgages B. Reverse annuity mortgages C. Adjustable-rate mortgage loans D.
Answers (1)
New Questions in Business
With three criteria, you can raise your rank on a search engine: competition, relevancy, and content. branding. name recognition value. e-commerce.
Answers (1)
What can a benefit and a drawback be for a 'franchisor'?
Answers (1)
Roy was doing repair work in the apartment of Melinda. He saw a deep crack in the floor but did not repair it at the time. Later while doing ceiling work, his ladder got stuck in the crack and he injured himself.
Answers (1)
Imaging Services was organized on March 1, 2018. A summary of the revenue and expense transactions for March follows:Fees earned $1,100,000Wages expense 715,000Rent expense 80,000Supplies expense 9,000Miscellaneous expense 12,000Prepare an income
Answers (1)
Natasha has $1000 to open a checking account. She can maintain a monthly balance of $600. She also has a savings account at the same bank. Her employer offers direct deposit and she plans to use online bill paying.
Answers (1)