Question
On December 31, 2019, Little Corporation's Assets and Liabilities were $66,000 and $15,000 respectively. On December 31, 2020, the assets and liabilities were $94,000 and
On December 31, 2019, Little Corporation's Assets and Liabilities were $66,000 and $15,000 respectively. On December 31, 2020, the assets and liabilities were $94,000 and $28,000 respectively. During 2020, the company issued $7,000 of additional stock, and paid $3,000 of dividends. Determine the companys net income for 2020.
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College Accounting Chapters 1-30
Authors: David Haddock, John Price, Michael Farina
16th Edition
1260247902, 978-1260247909
