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Accounting
Shep Company’s records show the following information for the current year: Beginning of year End of year Total assets $ 51,200 $ 81,500 Total liabilities $ 22,600 $ 35,600 Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.) a. Additional common stock of $3,600 was issued, and dividends of $7,600 were paid during the current year. b. Additional common stock of $15,150 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $12,600 were paid during the current year. a. Net income (loss): ________ b. Net income (loss): ________ c. Net income (loss): ________

Shep Company’s records show the following information for the current year: Beginning of year End of year Total assets $ 51,200 $ 81,500 Total liabilities $ 22,600 $ 35,600 Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.) a. Additional common stock of $3,600 was issued, and dividends of $7,600 were paid during the current year. b. Additional common stock of $15,150 was issued, and no dividends were paid during the current year. c. No additional common stock was issued, and dividends of $12,600 were paid during the current year. a. Net income (loss): ________ b. Net income (loss): ________ c. Net income (loss): ________

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...
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Shep Company’s records show the following information for the current year:

Beginning of year End of year
Total assets $ 51,200 $ 81,500
Total liabilities $ 22,600 $ 35,600


Determine net income (loss) for each of the following separate situations. (For all requirements, losses should be entered with a minus sign.)

a. Additional common stock of $3,600 was issued, and dividends of $7,600 were paid during the current year.
b. Additional common stock of $15,150 was issued, and no dividends were paid during the current year.
c. No additional common stock was issued, and dividends of $12,600 were paid during the current year.

a. Net income (loss): ________

b. Net income (loss): ________

c. Net income (loss): ________

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