A corporation had the following assets and liabilities at the beginning and end of this year. Assets Beginning of the year End of the year $109,000 152,500 Liabilities $46,728 61, 763 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,400 cash per month. c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. d. Dividends were $1,400 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine net income or net loss for the business during the year for each of the above separate cases: (Decreases In equlty should be Indicated with a mlnus sign.) b. C. d. Beginning of the year-Equity Owner investments Dividend Net income (loss) End of the year-Equity 이 S

A corporation had the following assets and liabilities at the beginning and end of this year. Assets Beginning of the year End of the year $109,000 152,500 Liabilities $46,728 61, 763 a. Owner made no investments in the business, and no dividends were paid during the year. b. Owner made no investments in the business, but dividends were $1,400 cash per month. c. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. d. Dividends were $1,400 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine net income or net loss for the business during the year for each of the above separate cases: (Decreases In equlty should be Indicated with a mlnus sign.) b. C. d. Beginning of the year-Equity Owner investments Dividend Net income (loss) End of the year-Equity 이 S

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter20: Corporations And Partnerships

Section: Chapter Questions

Problem 45P

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