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OverLord2011 [107]
3 years ago
7

Owner made no investments in the business, and no dividends were paid during the year. Owner made no investments in the business

, but dividends were $700 cash per month. No dividends were paid during the year, but the owner did invest an additional $45,000 cash in exchange for common stock. Dividends were $700 cash per month, and the owner invested an additional $35,000 cash in exchange for common stock. Determine the net income earned or net loss incurred by the business during the year for each of the above separate cases: (Decreases in equity should be indicated with a minus sign.)
Business
1 answer:
oksian1 [2.3K]3 years ago
5 0

Answer:

scenario 1

owner made no investment in the business and no dividend were paid during the year,<em> there may be no income or net loss incurred by the business. there is no decrease or increase in equity.</em>

scenario 2

owner made no investments in the business but dividend were $700 cash per month, <em>the net income earned during the year equal $700*12 = $8,400.</em>  <em>There is no changes in equity</em>

scenario 3

No dividend were paid during the year but owner invested an additional $45,000 cash in exchange for common stock.  <em>There will be increase in equity by $45,000 but net income or net loss cannot be determined</em>

scenario 4

Dividend were $700 cash per month and the owner invested additional $35,000 cash in exchange for common stock.  <em>The net Income earned will $8,400 while $35,000 will added to equity as additional capital.</em>

Explanation:

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