On January 1, Christopher's reported total stockholders' equity of $1,300. During the year, $50 of dividends were declared and paid, donated land with a donor book value of $14 and a current fair value of $38 was received, additional common stock was issued for $300, and treasury stock was acquired for $22. The reported total stockholders' equity at December 31 was $1,406. What was the reported
net income or loss for the year?
A) $160 net income
B) $136 net loss
C) $160 net loss
D) $260 net loss
C
You might also like to view...
Exit fees are paid for:
A) covering the cost of removing unsuccessful products from inventory B) getting a retailer to agree to limit purchases from another vendor C) shipping costs D) cooperative advertising programs
A franchisor discloses a cautionary statement that reads, "Caution: These figures are only estimates of what we think you may earn. There is no assurance you'll do as well. If you rely upon our figures, you must accept the risk of not doing so well&q
This is an instance of ________. A) disclosure of earning projections based on actual data B) disclosure of earning projections based on hypothetical data C) nondisclosure of sales or earnings projections D) fraudulent disclosure by the franchisor
In the context of buyer-seller communication, which of the following is probably the most oversold form of technology?
A. Expert systems B. Voice mails C. Pagers D. Fax machines E. Intranets
In general, products that are consumed in fixed amounts have
A. constant demand. B. elastic demand. C. inelastic demand. D. variable demand.