Georgio Company began 2015 with net assets of $80,000. Net income calculated by using the capital maintenance concept was $21,000. During 2015, owners contributed $26,000 of new capital. By year-end, the net assets totaled $78,000. Dividends to the owners during 2015 were
A) $49,000.
B) $28,000.
C) $23,000.
D) $2,000.
A
You might also like to view...
Which approach to developing a marketing communications budget is often viewed as being the most effective?
A) objective and task B) percentage of sales C) what we can afford D) payout planning
Which of the following is an exception that would force going-rate prices to deviate from unit
costs? A) sudden spikes in prices due to perceived future cost increases B) shifts in the perception of product category, such as a product previously considered a luxury item becoming a commodity C) presence of a few major players in the industry D) long periods of stable economic conditions that bring about economic prosperity
Maggie and Nate enter into a contract for the sale of a car, but Nate later refuses to deliver the car. Maggie asks a court to order Nate to perform as promised. Ordering a party to perform what was promised is
a. specific performance. b. damages. c. rescission. d. beyond the court's authority.
_________ punish the wrongdoer in a breach of contract case by allowing the plaintiff to receive relief beyond compensatory or expectancy damages because of a tort
a. Punitive damages b. Real damages c. Super damages d. Liquidated damages e. Nominal damages