Georgio Company Began 2015 with Net Assets of $80,000

question 124

Multiple Choice

Georgio Company began 2015 with net assets of $80,000. Net income calculated by using the capital maintenance concept was $21,000. During 2015, owners contributed $26,000 of new capital. By year-end, the net assets totaled $78,000. Dividends to the owners during 2015 were

• A) $49,000.
• B) $28,000.
• C) $23,000.
• D) $2,000.

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