The total assets and liabilities of Robot Company at January 1 and December 31, 2020 are presented below. January 1 December 31 Assets $76,000 $112,000 Liabilities 26,000 28,800 Question: a.) Assume dividends of $10,800 were paid and no additional stock was issued during the year. Revenues were $110,000. Compute (a) net income, and (b) expenses. b.) Assume additional stock was issued for $4,800 and no dividends were paid during the year. Expenses were $42,000. Compute (a) net income, and (b) revenues. c.) Assume additional stock was issued for $62,000 and dividends of $15,600 were paid during the year. Compute net income.
The total assets and liabilities of Robot Company at January 1 and December 31, 2020 are presented below.
January 1 December 31
Assets $76,000 $112,000
Liabilities 26,000 28,800
Question:
a.) Assume dividends of $10,800 were paid and no additional stock was issued during the year. Revenues were $110,000. Compute (a) net income, and (b) expenses.
b.) Assume additional stock was issued for $4,800 and no dividends were paid during the year. Expenses were $42,000. Compute (a) net income, and (b) revenues.
c.) Assume additional stock was issued for $62,000 and dividends of $15,600 were paid during the year. Compute net income.
d.) Assume additional stock was issued for $6,000, and net income was $51,000. Compute dividends paid.
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