Question
Holt started the year with $125K in total equity. During the year, Holt did not have any transactions which affected any equity account on the
Holt started the year with $125K in total equity. During the year, Holt did not have any transactions which affected any equity account on the balance sheet, save R/E. At the end of the year, Holts equity was $140K. If Holt declared $13K in the dividends during the year, what was Holts net income for the year?
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
