Following Are the Total Assets and Liabilities at the Beginning

question 116

Essay

Following are the total assets and liabilities at the beginning and end of the year for Maren Corporation:
$\begin{array}{|l|r|r|}\hline &{\text { Assets }} & \text { Liabilities } \\\hline \text { Beginning of the year } & \$ 70,000 & \$ 45,000 \\\hline \text { End of the year } & 130,000 & 40,000 \\\hline\end{array}$ Determine the net income or loss for the year in each of the following situations:
a.The stockholders made no investments in the business and no dividends were paid during the year.
b.The stockholders made an investment of $20,000 and a dividend of $12,000 was paid during the year.

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Units of time in calendars that approximately correspond to one cycle of the moon's phases, used to measure durations and organize schedules.

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