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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Essentials Of Federal Taxation 2019
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
10th Edition
1260189988, 1260189678, 9781260189674, 978-1259917103, 125991710X, 978-1260190045
