Question
The changes in account balances for Elder Company for 2024 are as follows: Assets $ 490,000 debit Common stock 230,000 credit Liabilities 144,000 credit Paid-in
The changes in account balances for Elder Company for 2024 are as follows: Assets $ 490,000 debit Common stock 230,000 credit Liabilities 144,000 credit Paid-in capitalexcess of par 16,000 credit Assuming the only changes in retained earnings in 2024 were for net income and a $56,000 dividend, what was net income for 2024?
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Auditing And Assurance Services
Authors: David Ricchiute
7th Edition
0324117760, 978-0324117769
