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    asghar1984 Posts: 2, Reputation: 1
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    Jan 28, 2012, 11:36 PM
    Accounting
    Increase (Decrease)


    Increase (Decrease)
    Cash $69,000 Accounts Payable $(51,000)
    Accounts Receivable (net) 45,000 Bonds Payable 82,000
    Inventory 127,000 Common Stock 125,000
    Investments (47,000) Additional Paid-in Capital 13,000

    Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $24,000 which was paid in the current year.

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