= Liabilities + Equity $40,000 Assets Balances at April 1, 2015 $100,000 $60,000 Shares issued in April April net income(loss) Dividends paid in April Balances at April 30, 2015 $180,000 $130,000 Required: Using the information provided above, calculate the net income or net loss realized during April under each of the following independent assumptions. a. No shares were issued in April and no dividends were paid. b. $50,000 of shares were issued in April and no dividends were paid. c. No shares were issued in April and $4,000 of dividends were paid in April.
= Liabilities + Equity $40,000 Assets Balances at April 1, 2015 $100,000 $60,000 Shares issued in April April net income(loss) Dividends paid in April Balances at April 30, 2015 $180,000 $130,000 Required: Using the information provided above, calculate the net income or net loss realized during April under each of the following independent assumptions. a. No shares were issued in April and no dividends were paid. b. $50,000 of shares were issued in April and no dividends were paid. c. No shares were issued in April and $4,000 of dividends were paid in April.
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.7E: Net income and dividends The income statement of a corporation for the month of November indicates a...
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