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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 5
Using the accounting equation to analyze business transactions
Great City Builders, Inc., balance sheet data at May 31, 2012, and June 30, 2012, follow:
Requirements
1. Following are three situations about stockholders' investments and dividends of the business during June. For each situation, compute the amount of net income or net loss during June 201.2.
a. The company issued $6,000 of common stock and paid no dividends.
b. The company issued no common stock. It paid dividends of $10,000.
c. The company issued $18,000 of common stock and paid dividends of $20,000.
Great City Builders, Inc., balance sheet data at May 31, 2012, and June 30, 2012, follow:
Requirements
1. Following are three situations about stockholders' investments and dividends of the business during June. For each situation, compute the amount of net income or net loss during June 201.2.
a. The company issued $6,000 of common stock and paid no dividends.
b. The company issued no common stock. It paid dividends of $10,000.
c. The company issued $18,000 of common stock and paid dividends of $20,000.
Explanation
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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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