Three different companies--A, B, and C--have the same balance sheet at the beginning and the end of a year. These are summarized below:
$\begin{array}{lll}
\text {Total Libilities}&
\text {Total Assets}\
\$ 250,000 & \$ 500,000 & \text { Begiming of the year } \
\$ 350,000 & \$ 1,200,000 & \text { End of the year }
\end{array}$ Given the data above and the additional information for each company below, determine the net income (loss) for each company.

Question

Three different companies--A, B, and C--have the same balance sheet at the beginning and the end of a year. These are summarized below:
 $\begin{array}{lll}
 \text {Total Libilities}&
\text {Total Assets}\
\$ 250,000 & \$ 500,000 & \text { Begiming of the year } \
\$ 350,000 & \$ 1,200,000 & \text { End of the year }
\end{array}$ Given the data above and the additional information for each company below, determine the net income (loss) for each company.

Quizplus · Accepted Answer

The Answer of Three different companies--A, B, and C--have the same balance sheet at the beginning and the end of a year. These are summarized below:
 $\begin{array}{lll}
 \text {Total Libilities}&
\text {Total Assets}\
\$ 250,000 & \$ 500,000 & \text { Begiming of the year } \
\$ 350,000 & \$ 1,200,000 & \text { End of the year }
\end{array}$ Given the data above and the additional information for each company below, determine the net income (loss) for each company.

Three Different Companies--A, B, and C--Have the Same Balance Sheet