A company had the following assets and liabilities at the beginning and end of this year. Liabilities $ 49,301 69,863 Beginning of the year End of the year Assets $ 115,000 172,500 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 $12,600 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 $12,600 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: Note: 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. Answer is not complete. 36,938 $ $ b. 0 (12,600)✓ 49,538 0 $ $ C. 0 45,000 0- 8,062 X 0 $ $ d. 0 35,000 (12,600) 14,538 0 000

A company had the following assets and liabilities at the beginning and end of this year. Liabilities $ 49,301 69,863 Beginning of the year End of the year Assets $ 115,000 172,500 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 $12,600 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 $12,600 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: Note: 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. Answer is not complete. 36,938 $ $ b. 0 (12,600)✓ 49,538 0 $ $ C. 0 45,000 0- 8,062 X 0 $ $ d. 0 35,000 (12,600) 14,538 0 000

Name: I keep getting wrong the net income for C. A company had the following
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Description: I keep getting wrong the net income for C. A company had the following assets and liabilities at the beginning and end of this year.Liabilities$ 49,30169,863Beginning of the yearEnd of the yearAssets$ 115,000172,500a. Owner made no investments in the

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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