The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019 December 31 2018 2019 Cash $ 51,652 $ 9,510 Accounts receivable 28,037 21,981 Office supplies 4,423 3,239 Office equipment 135,763 144,613 Trucks 53,125 62,125 Building 0 177,099...

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The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018

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The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019.

December 31	2018		2019
Cash	$	51,652	$	9,510
Accounts receivable		28,037		21,981
Office supplies		4,423		3,239
Office equipment		135,763		144,613
Trucks		53,125		62,125
Building		0		177,099
Land		0		44,195
Accounts payable		73,710		36,558
Note payable		0		121,294

Compute net income for 2019 by comparing total equity amounts for these two years and using the following information: During 2019, the owner invested $37,000 additional cash in the business (in exchange for common stock) and the company paid a $36,000 cash dividend.

Posted Date: May 30, 2024 07:00 PM

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The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018

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