chiphi09
Jun 21, 2009, 03:38 PM
I just cant get this.
If robs cars shop started the year with total assests of $60,000 and total liabilities of 40,000. during the year the business recoreded $100,000 in car repair revenues, $55,000 in expenses, and dividens of $10,000. what is the net income for the shop for the year as well as the stockholders equity at the end of the year.
i think that im just getting the formuals confused.
If robs cars shop started the year with total assests of $60,000 and total liabilities of 40,000. during the year the business recoreded $100,000 in car repair revenues, $55,000 in expenses, and dividens of $10,000. what is the net income for the shop for the year as well as the stockholders equity at the end of the year.
i think that im just getting the formuals confused.