Answer:
$32,300
Explanation:
Begining equity = Begining asset - Begining liabilities
= $231,000 - $96,500 = $134,500
Ending equity = Ending asset - Ending liabilities
= $262,000 - $78,400 = $183,600
We will find the net income for the year using the below formula:
Ending equity = Begining equity + Stock issuance + Net income - Dividend paid, or:
$183,600 = $134,500 + 23,500 + Net income - $6,700.
Solve the above equation we get Net income = $32,300
Answer:
B. Getting caught in the transition period without a clear strategic advantage.
Answer:
Explanation:
The accounting equation is presented below:
Particulars Assets = Liabilities = Stockholders equity
Cash Supplies Account payable Retained earnings
1. Service
Performed $20,000 $20,000
2. Supplies
Purchased $4,000 $4,000
3. Supplies
Used -$3,000 -$3,000
Total $20,000 $1,000 $4,000 $17,000
Is there answer choices if not
I think it is Design.
