On December 31, 2014, the net assets of Martinez Manufacturing amounted to $40,000. Net income calculated by using the financial capital maintenance concept amounted to $12,000. During the year, additional common stock was issued for $8,000, and $5,000 of dividends was paid. The net assets at January 1, 2014, amounted to
A) $31,000
B) $37,000
C) $20,000
D) $25,000

Question

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The Answer of On December 31, 2014, the net assets of Martinez Manufacturing amounted to $40,000. Net income calculated by using the financial capital maintenance concept amounted to $12,000. During the year, additional common stock was issued for $8,000, and $5,000 of dividends was paid. The net assets at January 1, 2014, amounted to
A) $31,000
B) $37,000
C) $20,000
D) $25,000

On December 31, 2014, the Net Assets of Martinez Manufacturing