Question

Assets Liabilities Beginning of Year: $29,000 $19,000 End of Year: $61,000 $25,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity 10000 Ending Equity 36000 3) If the company issues common stock of $9,800 and pay dividends of $37,200, how much is net income (loss)? 4) If net income is $1,200 and dividends are $8,100, how much is common stock? Common Stock Net Income (Loss) 5) If the company issues common stock of $17,400 and net income is $17,200, how much is dividends? 6) If the company issues common stock of $44,400 and pay dividends of $2,300, how much is net income (loss)? Dividends Net Income (Loss)

Answer 1

Change in Equity	26000	=36000-10000
3
Net Income (loss)	53400	=26000-9800+37200
4
Common Stock	32900	=26000-1200+8100
5
Dividends	8600	=(17400+17200)-26000
6
Net Income (loss)	(16100)	=26000-44400+2300