1. 2. Rockaway Water\'s total liabilities on December? 31, 2014 are $7,400. What

Question

1.

2.

Rockaway Water's total liabilities on December? 31, 2014 are $7,400. What is Rockaway ?Water's debt ratio on this? date?

3.

Was there a profit or a loss for the year ended December? 31, 2014?? How can you? tell?

4.

At what price per share did Rockaway Water issue common stock during 2014??

1.

Determine the December? 31, 2014?, balances in Rockaway Water's shareholders' equity accounts and total? shareholders' equity on this date.

2.

Rockaway Water's total liabilities on December? 31, 2014 are $7,400. What is Rockaway ?Water's debt ratio on this? date?

3.

Was there a profit or a loss for the year ended December? 31, 2014?? How can you? tell?

4.

At what price per share did Rockaway Water issue common stock during 2014??

Rockaway Water Company reportad the following items on its statement of shareholders' equity for the year ended December 31, 2014 (amounts in thousands of S, except for par value per share) (cick the won to view the statement ot shareholders' equity) Read the requrements Requirement 1 Determine the December 31, 2014. balances n Roc away Water's snareholders' equity ??ounts and otal shareholders' equity on this dete. Use parentheses or a minus sign with numbers to be subtracted Data Table S0.50 par Common AdditionalRetained Comprehensive Shareholders Other Tota Stock Paid-in Capitl Earnings Income Equity Balance, December 31, 2013 370 S 1,830 3,250 S 8 S 5-158 S0.50 Par Other Tota 1,230 cained Cmprehensive Shareholders Other comprehensive income ssuanice of stock Cash drvidends Balance, December 31, 2011 Stock Paid in Capta Earninas Income Equity 45 315 370 S 1.830 S 8 S Balance, December 31, 2013....$ Not earnings Other comprehensive income Issuanoc of slock Cash diMdends Balance, December 31,2014 3,250 S 5,158 (69) 1,230 45 Enter any number in the edit fiolds and then click Chock Answer

Explanation / Answer

Part 2

Rockaway Water's debt ratio = total liabilities / total assets = total liabilities / (total liabilities + total stockholders' equity) = 7400 / (7400+6980) = 0.51 or 51.46%

Part 3

There was a profit or a loss for the year ended December 31, 2014. This can be known net earnings which is positive amount i.e. 1230 and thus, added to Retained earnings.

Part 4

Number of shares issued = $45 / $0.5 par value per share = 90

Issue price share = 0.50 + (315/90) = 0.5 + 3.50 =$4.00

$0.5 par common stock additional paid in capital Retained earnings accumulated other comprehensive income Total stockholders' equity Balance December 31 2013 370 1830 3250 8 5458 Net earnings 1230 1230 Other comprehensive income 1 1 Issuance of stock 45 315 360 Cash dividends (69) (69) Balance December 31 2014 415 2145 4411 9 6980

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