Josephine's Bakery had the following assets and liabilities at the beginning and end of the current year:
$\begin{array}{|l|r|r|}
\hline & \text { Assets } & \text { Liabilities } \
\hline \text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\hline \text { End of the year } & 135,000 & 73,000 \
\hline
\end{array}$ If the owners invested an additional $12,000 in the business during the year, but no dividends were paid, what was the amount of net income earned by Josephine's Bakery during the current year?

Question

Josephine's Bakery had the following assets and liabilities at the beginning and end of the current year:
 $\begin{array}{|l|r|r|}
\hline & \text { Assets } & \text { Liabilities } \
\hline \text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\hline \text { End of the year } & 135,000 & 73,000 \
\hline
\end{array}$ If the owners invested an additional $12,000 in the business during the year, but no dividends were paid, what was the amount of net income earned by Josephine's Bakery during the current year?

Quizplus · Accepted Answer

The Answer of Josephine's Bakery had the following assets and liabilities at the beginning and end of the current year:
 $\begin{array}{|l|r|r|}
\hline & \text { Assets } & \text { Liabilities } \
\hline \text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\hline \text { End of the year } & 135,000 & 73,000 \
\hline
\end{array}$ If the owners invested an additional $12,000 in the business during the year, but no dividends were paid, what was the amount of net income earned by Josephine's Bakery during the current year?

Josephine's Bakery Had the Following Assets and Liabilities at the Beginning