Q. No 1 (A) The total assets and liabilities of Tesla Company at January 1 and December 31, 2016, are presented below. Determine the amount of net income or loss for 2016, applying each of the following assumptions concerning the additional issuance of stock and dividends paid by the firm. Each case is independent of the others. 1. Dividends of $12,100 were paid and no additional stock was issued during the year. 2. Additional stock of $18,000 was issued and no dividends were paid during the year. 3. Additional stock of $72,000 was issued and dividends of $12,400 were paid during the year.
Q. No 1 (A) The total assets and liabilities of Tesla Company at January 1 and December 31, 2016, are presented below. Determine the amount of net income or loss for 2016, applying each of the following assumptions concerning the additional issuance of stock and dividends paid by the firm. Each case is independent of the others. 1. Dividends of $12,100 were paid and no additional stock was issued during the year. 2. Additional stock of $18,000 was issued and no dividends were paid during the year. 3. Additional stock of $72,000 was issued and dividends of $12,400 were paid during the year.
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter10: Liabilities: Current, Installment Notes, And Contingencies
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Q. No 1 (A) The total assets and liabilities of Tesla Company at January 1 and December 31, 2016, are presented below.
Determine the amount of net income or loss for 2016, applying each of the following assumptions concerning the additional issuance of stock and dividends paid by the firm. Each case is independent of the others.
1. Dividends of $12,100 were paid and no additional stock was issued during the year.
2. Additional stock of $18,000 was issued and no dividends were paid during the year.
3. Additional stock of $72,000 was issued and dividends of $12,400 were paid during the year.
Transcribed Image Text:January 1
December 31
$103,000
72,000
$167,000
88,000
Assets
Liabilities
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