Question:34 Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Beginning of Year Assets Liabilities End of Year Assets Liabilities 1. What is the equity at the beginning of the year? 2. What is the equity at the end of the year? 27000 15000 63000 25000 3. If the company issues commons stock of 5,000, pays dividends of 37,000 how much is the net income or loss? 4. If the net income is 2,000 and dividends are 8,500 how much is common stock? 5. If the company issues common stock of 19,000 and net income is 19,900 how much is dividends? 6. If the company issues common stock of 43,400 and dividends of 1,400 how much is the net income (loss)?
Question:34 Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Beginning of Year Assets Liabilities End of Year Assets Liabilities 1. What is the equity at the beginning of the year? 2. What is the equity at the end of the year? 27000 15000 63000 25000 3. If the company issues commons stock of 5,000, pays dividends of 37,000 how much is the net income or loss? 4. If the net income is 2,000 and dividends are 8,500 how much is common stock? 5. If the company issues common stock of 19,000 and net income is 19,900 how much is dividends? 6. If the company issues common stock of 43,400 and dividends of 1,400 how much is the net income (loss)?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Question:34
Using the expanded accounting equation, calculate and enter the
answers for each question. You will need to use the answers you
calculate for beginning and ending equity to answer the rest of the
questions.
Beginning of Year
Assets
Liabilities
End of Year
Assets
Liabilities
1. What is the equity at the beginning of the year?
2. What is the equity at the end of the year?
27000
15000
63000
25000
3. If the company issues commons stock of 5,000, pays dividends of
37,000 how much is the net income or loss?
4. If the net income is 2,000 and dividends are 8,500 how much is
common stock?
5. If the company issues common stock of 19,000 and net income is
19,900 how much is dividends?
6. If the company issues common stock of 43,400 and dividends of
1,400 how much is the net income (loss)?
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