Question

please explain in depth so i can see how to get there.. two different ones
At the beginning of its current fiscal year, Willie Corp.'s balance sheet showed assets of $11,300 and liabilities of $6,900. During the year, liabilities decreased by $800. Net income for the year was $2,550, and net assets at the end of the year were $4,450. There were no changes in paid-in capital during the year. Required: Calculate the dividends, if any, declared during the year. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Assets = $ 11,300 = Stockholders' Equi PIC + RE $ 0 + Liabilities + $ 6,900 + (800) + Beginning: Changes: 0 + Ending: = 1 0 +

Answer 1

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Statement showing Computations			Stockholder Equity
Particulars	Assets =	Liabilities   +	PIC +	RE
Beginning	11,300.00	6,900.00		4,400.00
Changes :	(6,850.00)	(800.00)		2,550.00
Dividend paid				(8,600.00)
Ending	4,450.00	6,100.00		(1,650.00)
Statement of stockholders Equity (Partial) For the year ended December 31'2019
Retained earnings , December 31'2018 = 378,540 - 40,680 +8100	345,960.00
Add Net income	40,680.00
Less dividend paid	(8,100.00)
Retained earnings , December 31'2019	378,540.00