Four different companies, Alpha, Beta, Charlie, and Dawg, show the same balance sheet data at the beginning and end of a year. These data, exclusive of the amount of owners? equity, are summarized as follows:
On the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year.
Company Alpha: No additional capital stock was issued, and no dividends were paid. Company Beta: No additional capital stock was issued, but dividends of $35,000 were paid. Company Charlie: Capital stock of $90,000 was issued, but no dividends were paid.
Company Dawg: Capital stock of $90,000 was issued, and dividends of $35,000 werepaid.
This question was answered on: Jul 11, 2017
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