Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities...
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Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this year. Assets $117,000 157,500 Liabilities $50, 158 Beginning of the year End of the year a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no Investments in the business, but dividends were $1,150 cash per month c. No dividends were paid during the year, but the owner did Invest an additional $45,000 cash in exchange for common stock d. Dividends were $1,150 cash per month, and the owner Invested an additional $35,000 cash in exchange for common stock. Determine the net income earned or net loss incurred by the business during the year for each of the above separate coses. (Decreases in equity should be indicated with a minus sign.) 1$ $ $ $ 66,842 66,842 0 Beginning of the year Equity Owner Investments Dividends Net income (loss) End of the year-Equity 66,842 0 1,150 66,842 45.000 or 18,130 93,712 (26.8703 1$ 93,712 $ 93,712 $ $ 93,712 Prey 1 of 6 Next >
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