Following are the total assets and liabilities at the beginning and end of the year for Maren Corporation:
$$\begin{array} { | l | r | r | }
\hline & \text { Assets } & \text { Liabilities } \
\hline \text { Bepinging of the year } & \$ 70,000 & \$ 45,000 \
\hline \text { End of the year } & 130,000 & 40,000 \
\hline
\end{array}$$ Determine the net income or loss for the year in each of the following situations:
a. The stockholders made no investments in the business and no dividends were paid during the year.
b. The stockholders made an investment of $20,000 and a dividend of $12,000 was paid during the year.

Question

Following are the total assets and liabilities at the beginning and end of the year for Maren Corporation:
 $$\begin{array} { | l | r | r | } 
\hline & \text { Assets } & \text { Liabilities } \
\hline \text { Bepinging of the year } & \$ 70,000 & \$ 45,000 \
\hline \text { End of the year } & 130,000 & 40,000 \
\hline
\end{array}$$ Determine the net income or loss for the year in each of the following situations: 
a. The stockholders made no investments in the business and no dividends were paid during the year.
b. The stockholders made an investment of $20,000 and a dividend of $12,000 was paid during the year.

Quizplus · Accepted Answer

The Answer of Following are the total assets and liabilities at the beginning and end of the year for Maren Corporation:
 $$\begin{array} { | l | r | r | } 
\hline & \text { Assets } & \text { Liabilities } \
\hline \text { Bepinging of the year } & \$ 70,000 & \$ 45,000 \
\hline \text { End of the year } & 130,000 & 40,000 \
\hline
\end{array}$$ Determine the net income or loss for the year in each of the following situations: 
a. The stockholders made no investments in the business and no dividends were paid during the year.
b. The stockholders made an investment of $20,000 and a dividend of $12,000 was paid during the year.

Following Are the Total Assets and Liabilities at the Beginning