Question

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. OOOOO Assets Liabilities Td Beginning of Year $28.000 $15.000 End of Year: 560.000 $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 13,000 Ending Equity 34000 3) if the company issues common stock of $5,800 and pay dividends of $44,100, how much is net income (loss)? 4) If net income is $2,000 and dividends are $9,800, how much is common stock? Net Income (Loss) Common Stock 5) if the company issues common stock of $17,000 and net income is $15,300,how much is dividends? 6) If the company issues common stock of $42,400 and pay dividends of $3,900, how much is net income (loss)? Dividends Net Income (Loss)

Answer 1

1) Beginning equity = 28000-15000 = 13000

2) Ending equity = 60000-26000 = 34000

3) Net income (loss) = 13000+5800-44100-34000 = 59300

4) Common Stock = 13000+2000-9800-34000 = 28800

5) Dividends = 13000+17000+15300-34000 = 11300

6) Net income (loss) = 13000+42400-3900-34000 = -17500