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Required Information [The following information applies to the questions displayed be The accounting records of Nettle Distribution show the following 2018 and 2019. December 31
Required Information [The following information applies to the questions displayed be The accounting records of Nettle Distribution show the following 2018 and 2019. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 2018 2019 $ 44,651 $ 7,002 24,237 19,002 3,823 2,800 117,363 125, 014 45,926 54,926 153,097 @ 38,203 63,720 31,603 @ 91,300 2. Compute net income for 2019 by comparing total equity amounts fo During 2019, the owner Invested $34,000 additional cash in the busin paid a $30,000 cash dividend. Equity, December 31, 2018 Add: Owner's investment Add: Net income 34,000 34,000 (30,000) Less: Dividends Equity, December 31, 2019 $ 4,000
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