can anyone help me please? im new with this.

[bret]

here are a few problems that i hope you can help me.

prob 1.) A company had at the end of 2009 the following balance sheet sums:

Fixed assets 6,400,000
Current assets 12,500,000
Share capital 1,000,000
Retained earnings 2,600,000
Short-term liabilities 7,200,000

The company had a profit in 2010 of 2,200,000. Disregard the effect of corporate taxes. There were no accruals for dividend to shareholders during 2010. What was the booked equity per 31st December 2010?


problem 2.)
A company had in 2010 fixed costs of 6,400,000, variable costs of 3,600,000, direct costs of 2,800,000 and indirect costs of 7,200,000. What were the total costs in 2010?


PLEASE, PLEASE HELP ME.

 

[mackwaa]

here are a few problems that i hope you can help me.

prob 1.) A company had at the end of 2009 the following balance sheet sums:

Fixed assets 6,400,000
Current assets 12,500,000
Share capital 1,000,000
Retained earnings 2,600,000
Short-term liabilities 7,200,000

The company had a profit in 2010 of 2,200,000. Disregard the effect of corporate taxes. There were no accruals for dividend to shareholders during 2010. What was the booked equity per 31st December 2010?


problem 2.)
A company had in 2010 fixed costs of 6,400,000, variable costs of 3,600,000, direct costs of 2,800,000 and indirect costs of 7,200,000. What were the total costs in 2010?


PLEASE, PLEASE HELP ME.

I don't really like answering test questions but at the same time I guess theres not much difference in answering test questions vs real life scenarios...

Anyway, what I will say is this:

A = L + P

where A = Assets
L = Liabilities
P = Proprietorship (which is ownership)

If you are the owner then all the earnings (both current year and all the retained earnings will (eventually) end up in your pocket)....