1) What is the balance in shareholder's equity at the beginning of the year? Beginning Equity 11,000 3) If the company issues common shares of $9,900 and pay dividends of $36,700, how much is net income (loss)? Net Income (Loss) 5) If the company issues common shares of $15,900 and net income is $19,600, how much is dividends? Dividends 2) What is the equity at the end of the year? Ending Equity 32,000 4) If net income is $1,800 and dividends are $7,500, what was the value of common shares issued? Common Shares 6) If the company issues common shares of $42,200 and pay dividends of $2,400, how much is net income (loss)? Net Income (Loss)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You will need to use the answers you calculate for beginning and ending equity to answer the
rest of the questions.
Beginning of Year:
End of Year:
Assets
Net Income (Loss)
$27,000
$61,000
Dividends
Liabilities
$16,000
1) What is the balance in shareholder's equity at the beginning of the year?
Beginning Equity 11,000
$29,000
3) If the company issues common shares of $9,900 and pay dividends of
$36,700, how much is net income (loss)?
5) If the company issues common shares of $15,900 and net income is
$19,600, how much is dividends?
2) What is the equity at the end of the year?
Ending Equity
4) If net income is $1,800 and dividends are $7,500, what was the
value of common shares issued?
Common Shares
32,000
6) If the company issues common shares of $42,200 and pay dividends
of $2,400, how much is net income (loss)?
Net Income (Loss)
Transcribed Image Text:You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Beginning of Year: End of Year: Assets Net Income (Loss) $27,000 $61,000 Dividends Liabilities $16,000 1) What is the balance in shareholder's equity at the beginning of the year? Beginning Equity 11,000 $29,000 3) If the company issues common shares of $9,900 and pay dividends of $36,700, how much is net income (loss)? 5) If the company issues common shares of $15,900 and net income is $19,600, how much is dividends? 2) What is the equity at the end of the year? Ending Equity 4) If net income is $1,800 and dividends are $7,500, what was the value of common shares issued? Common Shares 32,000 6) If the company issues common shares of $42,200 and pay dividends of $2,400, how much is net income (loss)? Net Income (Loss)
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