Question
he changes in account balances for Allen Inc. for 2021 are as follows: Assets $ 305,000 debit Common stock 205,000 credit Liabilities 51,000 credit Paid-in
he changes in account balances for Allen Inc. for 2021 are as follows:
| Assets | $ | 305,000 | debit |
| Common stock | 205,000 | credit | |
| Liabilities | 51,000 | credit | |
| Paid-in capitalexcess of par | 30,000 | credit | |
Assuming the only changes in retained earnings in 2021 were for net income and a $45,000 dividend, what was net income for 2021?
Multiple Choice
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$30,000.
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$26,000.
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$19,000.
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$64,000.
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Computer Accounting With Peachtree Complete 2011
Authors: Carol Yacht, Peachtree Software
15th Edition
007811098X, 978-0078110986
