A company had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $ 105,500 162,000 Liabilities $ 45,228 65,610 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, and dividends paid were $6,600 during the year. c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. d. Dividends paid were $6,600 during the year, and the owner did invest an additional $35,000 cash near year-end in exchange for common stock. Determine net income or net loss for the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.) Beginning of the year-Equity Owner investments Dividends Net income (loss) End of the year-Equity a. b. C. d.

A company had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $ 105,500 162,000 Liabilities $ 45,228 65,610 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, and dividends paid were $6,600 during the year. c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. d. Dividends paid were $6,600 during the year, and the owner did invest an additional $35,000 cash near year-end in exchange for common stock. Determine net income or net loss for the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.) Beginning of the year-Equity Owner investments Dividends Net income (loss) End of the year-Equity a. b. C. d.

Name: vi.3 A company had the following assets and liabilities at the beginni
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Description: vi.3 A company had the following assets and liabilities at the beginning and end of this year.Beginning of the yearEnd of the yearAssets$ 105,500162,000Liabilities$ 45,22865,610a. Owner made no investments in the business, and no dividends were paid

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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