A company had the following assets and liabilities at the beginning and end of this year.
Beginning of the year
End of the year
Assets
$\ 91,500$
147,500
Liabilities
$\ 39,226$
59,738
a. Owner made no investments in the business, and no dividends were paid during the year.
b. Owner made no investments in the business, and dividends paid were $\ 14,400$ during the year.
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 paid were $\ 14,400$ during the year, and the owner did invest an additional $\ 35,000$ cash near year-end in exchange
for common stock.
Determine net income or net loss for the business during the year for each of the above separate cases:
Note: Decreases in equity should be indicated with a minus sign.
b.
c.
d.
Beginning of the year-Equity
$\ 52,274 \$ $\ 52,274 \$ $\ 52,274 \$ $\ 52,274$
Owner investments
0
Dividends
0
Net income (loss)
End of the year-Equity
$\ 0 \$ $\ 0 \$ $\ 0$
