At the beginning of the year, Suzanne Company had total assets of $1,200,000 and total stockholders' equity of $460,000. During the year, total assets increased by $180,000, and total liabilities increased by $84,000. The company also paid $14,000 in dividends. How much was the net income for the year? (A) $ 96,000 (B) $130,000 (C) $ 62,000 (D) $110.000

At the beginning of the year, Suzanne Company had total assets of $1,200,000 and total stockholders' equity of $460,000. During the year, total assets increased by $180,000, and total liabilities increased by $84,000. The company also paid $14,000 in dividends. How much was the net income for the year? (A) $ 96,000 (B) $130,000 (C) $ 62,000 (D) $110.000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 10CDQ: Assume that as of January 1, 20Y8, Sylvester Con- suiting has total assets of $500,000 and total...

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