A Certain Company Started Business on January 1,2012 with Assets

question 43

Essay

A certain company started business on January 1,2012 with assets of $1,000,000 and stockholders' equity of $565,000.By the end of the year,assets increased by $100,000 and liabilities decreased by $150,000.Other than net income or loss,the only change in stockholders' equity was dividends of $50,000.
A) What was the amount total stockholders equity at the end of the year?
B) What was the amount net income of net loss for the year?

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Definitions:

Unjust Dismissal

The unwarranted termination of an employee in violation of legal or contractual obligations.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by the party to be charged.

Negligently Harms

Inflicting injury or damage on someone due to carelessness or failure to take reasonable precautions.

Senior Employee

A senior employee holds a high-ranking position within an organization, typically involving significant responsibilities or decision-making authority.