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. Assets Liabilities Beginning of Year: $29,000 $15,000 End of Year: $64,000 $28,000   6) If the company issues common stock of $42,300 and pay dividends of $2,100, how much is net income (loss)? Net Income (Loss):

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Balancing the Expanded Accounting Equation

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.

Assets Liabilities
Beginning of Year: $29,000 $15,000
End of Year: $64,000 $28,000
 
6) If the company issues common stock of $42,300 and pay dividends of $2,100, how much is net income (loss)?
Net Income (Loss):
2 HINT
Activity 4.b - Using the Expanded Accounting Equation
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.
Assets
Liabilities
Beginning of Year:
$29,000
$15,000
End of Year:
$64,000
$28,000
1) What is the equity at the beginning of the year?
2) What is the equity at the end of the year?
Beginning Equity
14000
Ending Equity
36000
3) If the company issues common stock of $5,100 and pay dividends of $44,000, how much is net income (loss)?
4) If net income is $2,700 and dividends are $7,700, how much is common stock?
Net Income (Loss)
60900
Common Stock
27000
5) If the company issues common stock of $16,700 and net income is $19,300, how much is dividends?
6) If the company issues common stock of $42,300 and pay dividends of $2,100, how much is net income (loss)?
Dividends
14000
Net Income (Loss)
Transcribed Image Text:2 HINT Activity 4.b - Using the Expanded Accounting Equation 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. Assets Liabilities Beginning of Year: $29,000 $15,000 End of Year: $64,000 $28,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 14000 Ending Equity 36000 3) If the company issues common stock of $5,100 and pay dividends of $44,000, how much is net income (loss)? 4) If net income is $2,700 and dividends are $7,700, how much is common stock? Net Income (Loss) 60900 Common Stock 27000 5) If the company issues common stock of $16,700 and net income is $19,300, how much is dividends? 6) If the company issues common stock of $42,300 and pay dividends of $2,100, how much is net income (loss)? Dividends 14000 Net Income (Loss)
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