[shanefly]

At the beginning of the current fiscal year, the balance sheet for Davis, Co. showed liability of $32,000. During the year, liabilities decreased by $18,000, assets increased by $65,000 and paid in full capital increased from $30,000 to $192,000. Dividends declared and paid during the year were $25,000. At the end of the year, owners equity totaled $429,000.

Required:
Calculate net income (loss) for the year. Hint: set up an accout equation for the beginning of the year, changes during the year, and at the end of the year. Enter known data and solve for the unknows. Remember, net income (or loss) may not be the only item affecting retained earnings.

[morgaine300]

Ditto what I said on your other board about not doing your homework for you.

The hint I wouldn't have given you for this is the one already given in the instructions. Have you attempted to do this?

[maro uchiha]

Investing 6000 cash

[maro uchiha]

Adam started his consultry by investing 6000 cash

[morgaine300]

Please start your own thread for your question instead of tagging onto someone else's. Having different things in the same thread is just confusing to everyone.