Course Accounting
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Course Accounting 7
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AOL and Final Exam Practice Questions with Answers Stosch Company's balance sheet reported assets of $67,000, liabilities of $20,000 and common stock of $17,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $38,000 and Stosch paid a $19,000 dividend during Year 2, then the amount of net income for Year 2 was which of the following? - correct answers$27,000 1. assets - liabilities - common stock = RE end year 1 2. RE year 2 ...
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AOL and Final Exam Practice Questions with Answers Stosch Company's balance sheet reported assets of $67,000, liabilities of $20,000 and common stock of $17,000 as of December 31, Year 1. If Retained Earnings on the balance sheet as of December 31, Year 2, amount to $38,000 and Stosch paid a $19,000 dividend during Year 2, then the amount of net income for Year 2 was which of the following? - correct answers$27,000 1. assets - liabilities - common stock = RE end year 1 2. RE year 2 ...