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A company had the following assets and liabilities at the beginning and end of this year. Assets Liabilities Beginning of the year $ 66J600 $
A company had the following assets and liabilities at the beginning and end of this year.
Assets Liabilities Beginning of the year $ 66J600 $ 26,666 End of the year 161600 36,666 a. Owner made no investments in the business, and no dividends were paid during the year. In. Owner made no investments in the business, and dividends paid were $15,000 during the year. c. No dividends were paid during the year, but the owner did invest an additional $55,000 cash in exchange for common stock. d. Dividends paid were $15,000 during the year, and the owner did invest an additional $35,000 cash near yearend in exchange for common stock. Determine net income or net loss for the business during the year for each otthe above separate cases: Note: Decreases in equity should be indicated with a minus sign. Begin ning of the yearEq uity Owner investments Dividends Net income (loss) End of the yearEquityrStep by Step Solution
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