Exhibit 2-1
Total Assets Total Liabilities
Beginning of the year $300,000 $130,000
End of the year $800,000 $550,000
-Refer to Exhibit 2-1.Determine the net income (or loss),assuming $50,000 of stock was issued and no dividends were paid?
A)$130,000
B)$30,000
C)$80,000
D)$220,000

Question

Quizplus · Accepted Answer

The Answer of Exhibit 2-1
Total Assets Total Liabilities
Beginning of the year $300,000 $130,000
End of the year $800,000 $550,000
-Refer to Exhibit 2-1.Determine the net income (or loss),assuming $50,000 of stock was issued and no dividends were paid?
A)$130,000
B)$30,000
C)$80,000
D)$220,000

Exhibit 2-1 Total Assets Total Liabilities