Wizco Advertising's balance sheet data at May 31, 2018, and June 30, 2018, follow: For each of

Question:

Wizco Advertising's data at May 31, 2018, and June 30, 2018, follow:

May 31, 2018 June 30, 2018 Total Assets $ 122,000 $ 287,000 Total Liabilities 144,000 66,000

For each of the following situations that occurred in June, 2018 with regard to common stock and dividends of a corporation, compute the amount of net income or net loss during June 2018.
a. The company issued $10,000 of common stock and paid no dividends.
b. The company issued no common stock. It paid cash dividends of $3,000.
c. The company issued $12,500 of common stock and paid cash dividends of $30,000.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...