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A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets
A corporation had the following assets and liabilities at the beginning and end of this year. Beginning of the year End of the year Assets $102,500 155,000 Liabilities $43,942 62,775 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 $900 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 $900 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.) a. b. C. d. Beginning of the year-Equity $ 58,558 $ 58,558 $ 58,558 $ 58,558 Owner investments 0 0 45,000 35,000 Dividend (10,800) (10,800) Net income (loss) End of the year-Equity $ 0 $ 0 $ 0
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