financial accounting question
glangsing (Not rated)
(Not rated)
December 31 | Total Assets | Total Liabilities | ||
2013 | $468,598 | $327,594 | ||
2014 | $548,598 | $377,594 | ||
2015 | $678,598 | $477,594 |
Kimmy began business on January 1, 2013, with an investment of $97,268 from stockholders.
From an analysis of the change in stockholders’ equity during the year, compute the net income (or loss) for:
(a) 2013, assuming Kimmy paid $23,990 in dividends for the year.
Net income (loss) for 2013 |
(b) 2014, assuming stockholders made an additional investment of $41,294 and Kimmy paid no dividends in 2014.
Net income (loss) for 2014 | $[removed] |
(c) 2015, assuming stockholders made an additional investment of $22,705 and Kimmy paid dividends of $21,361 in 2015.
Net income (loss) for 2015 | $ |
12 years ago
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