Firm C has Total Assets of $ 4,000,000. The firm’s Owners Equity at the beginning of the year was...
Firm C has Total Assets of $ 4,000,000. The firm’s Owners Equity at the beginning of the year was $2,800,000. The firm’s Net Income for the year was $ 400,000 and Dividends totaled $ 200,000… There was no Owners Investment for the year. Assuming that this information was for year ended 12/31/2007, please present the firm’s Statement of Owners Equity.
Homework Answers
| Firm C | |||
| Statement of Owner's Equity | |||
| For the year ended 12/31/2007 | |||
| Owners Equity at the beginning of the year | 28,00,000 | ||
| Add: Net Income for the year | 4,00,000 | ||
| Sub Total | 32,00,000 | ||
| Less: Dividend paid | 2,00,000 | ||
| Owners Equity at the end of the year | 30,00,000 | ||
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