For Each of the Following, Determine the Amount of Net $\$ 71,300$

question 208

Essay

For each of the following, determine the amount of net income or net loss for the year. (a) Revenues for the year totaled $\$ 71,300$ and expenses totaled $\$ 35,500$ . The shareholders purchased $\$ 15,000$ of common stock during the year.
(b) Revenues for the year totaled $\$ 220,500$ and expenses total ed $\$ 175,000$ . The shareholders were paid $\$ 40,000$ dividends during the year.
(c) Revenues for the year totaled $\$ 149,000$ and expenses total ed $\$ 172,000$ . The shareholders purchased $\$ 12,000$ of common stock and were paid $\$ 16,000$ in dividends during the year.
(d) Revenues for the year totaled $\$ 198,150$ and expenses total ed $\$ 174,200$ . The shareholders were paid $\$ 35,000$ dividends during the year.

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Definitions:

Table Clearing

The process of removing dishes, utensils, and leftovers from a table after a meal.

Extinction

In behavioral psychology, the process through which a conditioned response decreases or disappears after repeated exposure to the conditioned stimulus without the unconditioned stimulus.

Fixed-Ratio

A reinforcement schedule in which a response is rewarded after a predetermined number of responses have been made.

Square Footage

A measure of area used primarily in the United States for calculating the size of a space, equal to the area of a square with sides of one foot.