રાહુલ Richards Corporation had the following balances at December 31, 2020:Property, plant, and equipment $1,255,000 GoodwillInterest payableLine of credit, due on demandCustomer listAdditional paid-in capitalSalaries payableCash and cash equivalentsPension liabilityInventoryLand held for future expansionNet income for 2020 totaled $325,000. The company declared dividends of $50,000 on December 15, 2019.How much did Richards Corporation report as Stockholders' equity in the 2020 Balance sheet?Select one:6,000 Common stock120,000 Prepaid Insurance35,000 Accounts payable545,000 Retained earnings December 31, 201912,000 Accumulated depreciation85,000 Accounts receivable, net65,000 Accumulated other comprehensive loss436,000 Cash and cash equivalents136,000 Note payable, due in annual installments of $25,000 plus interest on December 31a. $955,000b. $1,230,000c. $1,290,000d. $1,280,000e. $960,000$212,0005,00024,00050,000410,000145,000120,0005,00085,000675,000

Stockholder's Equity: It refers to the residual assets available to the company's shareholders after…

Richards Corporation had the following balances at December 31, 2020: Property, plant, and equipment $1,255,000 Goodwill Interest payable Line of credit, due on demand Customer list Additional paid-in capital Salaries payable Cash and cash equivalents Pension liability Inventory Land held for future expansion Select one: 6,000 Common stock Net income for 2020 totaled $325,000. The company declared dividends of $50,000 on December 15, 2019. How much did Richards Corporation report as Stockholders' equity in the 2020 Balance sheet? a. $955,000 b. $1,230,000 c. $1,290,000 120,000 Prepaid Insurance 35,000 Accounts payable 545,000 Retained earnings December 31, 2019 12,000 Accumulated depreciation 85,000 Accounts receivable, net 65,000 Accumulated other comprehensive loss 436,000 Cash and cash equivalents 136,000 Note payable, due in annual installments of $25,000 plus interest on December 31 $212,000 5,000 24,000 50,000 410,000 145,000 120,000 5,000 85,000 675,000

Richards Corporation had the following balances at December 31, 2020: Property, plant, and equipment $1,255,000 Goodwill Interest payable Line of credit, due on demand Customer list Additional paid-in capital Salaries payable Cash and cash equivalents Pension liability Inventory Land held for future expansion Select one: 6,000 Common stock Net income for 2020 totaled $325,000. The company declared dividends of $50,000 on December 15, 2019. How much did Richards Corporation report as Stockholders' equity in the 2020 Balance sheet? a. $955,000 b. $1,230,000 c. $1,290,000 120,000 Prepaid Insurance 35,000 Accounts payable 545,000 Retained earnings December 31, 2019 12,000 Accumulated depreciation 85,000 Accounts receivable, net 65,000 Accumulated other comprehensive loss 436,000 Cash and cash equivalents 136,000 Note payable, due in annual installments of $25,000 plus interest on December 31 $212,000 5,000 24,000 50,000 410,000 145,000 120,000 5,000 85,000 675,000

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter3: Financial Statements, Cash Flow, And Taxes

Section: Chapter Questions

Problem 19SP

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