Homework Answers
No, it is not correct to say that company is incurring net loss of $8000.
Because Dividend is a portion of earnings.
Dividend can be Issued, from current year Income and also from previous year incomes (Retain earnings).
So it is wrong to say that company is incurring net loss of $8000.
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Cora Delivery Service during July Chapter 1 Introduction to Accounting and Business EX 1-12 Transactions The following selected transactions were completed by Cota Delivery Service 1. Received cash in exchange for common stock $35,000 2. Purchased supplies for cash, $1,100 3. Paid rent for October 54.500 4. Paid advertising expense, 5900. 5. Received cash for providing delivery services $33,000 6 Biled customers for delivery services on account $58.000 7. Paid creditors on account $2.900 & Received cash from customers on...
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