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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
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 $650 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 $650 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.) Answer is complete but not entirely correct. b. C. d. Beginning of the year-Equity $ 50,846 50,846 $ 50,846 S 50,846 Owner investments 00 00 45,000 35,000 Dividend 100 7.800 00 7,800 ( Not income (loss) 29,479 21,679 (15,521) (13,321) End of the year-Equity 80,325 ( 80,325 80,325 80,325
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