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A company had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets
A company had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $106,000 154,500 Liabilities $ 45,442 62,573 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $850 cash per month. c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. d. Dividends were $850 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine net income or net loss for the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.) X Answer is complete but not entirely correct. a. b. C. d. Beginning of the year-Equity $ 60,558 $ 60,558 $ 60,558 60,558 Owner investments 0 0 45,000 35,000 Dividend 0 (10,200) 0 (10,200) 60,558 50,358 X 0 85,353 Net income (loss) End of the yearEquity $ 91,927 $ 91,927 $ 91,927 $ 91,927
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