For a given year, beginning and ending total liabilities were $18,000 and $20,400, respectively. At year-end, owners' equity was $40,200 and total assets were $4,000 larger than at the beginning of the year. If new capital stock issued exceeded dividends by $4,800, net income (loss) for the year was apparently
a. $(3,200).
b. $(4,000).
c. $800.
d. $3,200.
A
You might also like to view...
Which of the following communication contexts is in?uenced by the days of the week, the seasons of the year, and the sequence of events?
A) physical context B) relational context C) cultural context D) chronological context
All of the following are important elements of internal control over cash except ?
A) a petty cash system. B) a cash reserve. C) a bank reconciliation. D) the daily deposit of all receipts.
Which of the following is not an indicator that a company may be an agent?
A) The company provides goods or services to customers. B) The company does not have inventory risk. C) The company's consideration is in the form of a commission. D) The company does not have discretion in establishing prices for goods and services.
"To increase the product assortment purchased by current customers by two percent during the next three months," is an example of a(n):
A. derived demand. B. future product quotient. C. market quota. D. account objective. E. net product forecast.