1) at the end of the second year of operations the total assets reported in the balance sheet xyz increased by 17000 over the first year. total liabilities increased by 5000. no common stock was issued and dividend were $6k. what was their net income?

2) the financial statements of zyz reported the following balances after the first year of operations. assets 75000 SE 55000 net income 15000 dividends 10000. what was the amount of common stock issued in their first year of operations?

3) on oct 1 21, the xyz paid ccc $30000 for one year of service beginning on that date. what adjusting entry does the company need to record on 12/31/21. at the end of their fiscal year? assume theyonly make adjusting journal entries at the end of their fiscal year.

4) on 9/1/21 xyz signs a one year contract to provide services beginning on that date. the contact specified the total value for your services to be provided evenly over the year is 18000. no entry is made on 9/1/21 @ the time the contract is signed. what entry does the company need to record in 12/31/21. @ the end of their fiscal years. adj entries are only made at the End of the fiscal yr.