= Liabilities $100,000 Equity $60,000 Assets + Balances at June 1, 2015 $160,000 Shares issued in June June net income(loss) Dividends paid in June Balances at June 30, 2015 $200,000 $90,000 Required: Using the information provided above, calculate the dividends paid in June under each of the following independent assumptions. a. In June no shares were issued and a $70,000 net income was earned. b. $40,000 of shares were issued in June and a $90,000 net income was earned. c. In June $130,000 of shares were issued and an $80,000 net loss was realized.
= Liabilities $100,000 Equity $60,000 Assets + Balances at June 1, 2015 $160,000 Shares issued in June June net income(loss) Dividends paid in June Balances at June 30, 2015 $200,000 $90,000 Required: Using the information provided above, calculate the dividends paid in June under each of the following independent assumptions. a. In June no shares were issued and a $70,000 net income was earned. b. $40,000 of shares were issued in June and a $90,000 net income was earned. c. In June $130,000 of shares were issued and an $80,000 net loss was realized.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question

Transcribed Image Text:= Liabilities +
$100,000
Equity
$60,000
Assets
Balances at June 1, 2015
$160,000
Shares issued in June
June net income(loss)
Dividends paid in June
Balances at June 30, 2015 _$200,000
$90,000
Required: Using the information provided above, calculate the dividends paid in June under each
of the following independent assumptions.
a. In June no shares were issued and a $70,000 net income was earned.
b. $40,000 of shares were issued in June and a $90,000 net income was earned.
c. In June $130,000 of shares were issued and an $80,000 net loss was realized.
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