At the beginning of the year, owners' equity totaled $135,000. During the year, net income was $42,000, and dividends of $31,000 were declared and paid. What was Owners' equity at the end of the year? a. $146,000 b. $125,000 c. $139,000 d. $148,000

At the beginning of the year, owners' equity totaled $135,000. During the year, net income was $42,000, and dividends of $31,000 were declared and paid. What was Owners' equity at the end of the year? a. $146,000 b. $125,000 c. $139,000 d. $148,000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 53E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...

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Correct Answer

At the beginning of the year, owners' equity
totaled $135,000. During the year, net income was
$42,000, and dividends of $31,000 were declared
and paid.
What was Owners' equity at the end of the year?
a. $146,000
b. $125,000
c. $139,000
d. $148,000

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