Purchase Solution

Calculating the net income from operations.

Not what you're looking for?

Ask Custom Question

The balance of Company A at the beginning of the year showed liabilities of $346,000. During the year liabilities increased by 14 000, assets increased by 65 000, and paid in capital also increased 20 000 to 165 000. Dividends declared and paid during the year were 51 000. At the end of the year owners equity totaled 402 000. What is net income or loss for the year?

Purchase this Solution
Solution Summary

The solution provides steps to calculate net income from operations.

Solution Preview

Sources of Funds:

Increase in liabilities= 14,000

Increase in paid up capital=20,000

Net ...

Purchase this Solution
Free BrainMass Quizzes
Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Business Ethics Awareness Strategy

This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.

Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Six Sigma for Process Improvement

A high level understanding of Six Sigma and what it is all about. This just gives you a glimpse of Six Sigma which entails more in-depth knowledge of processes and techniques.

View More Free Quizzes
Related BrainMass Solutions

  • Multiple-Step Income and Retained Earnings Statement

    820,000 Income from continuing operations before income tax 2,660,000 Income tax 905,000 Income from continuing operations 1,755,000 Discontinued operations Loss on operations, net of tax 90,000 Loss on disposal, net of

  • Multiple-step Income, Retained Earnings

    from flood damage, net of tax 390,000 Net income $835,000 Earnings per share: Income from continuing operations $ 5.62a Discontinued operations Loss on operations (net of tax) (0.30) Loss on disposal (net of tax) (1.47)

  • Financial Statement of a Restaurant

    So, because not all transactions involve actual cash items, many items have to be re-evaluated when calculating cash flow from operations.

  • Dell Co. Financial Statements

    of Cash Flows: Are cash flows from operations more or less than net income for the past two years?

  • Match Accounting Terms with Descriptions

    So, because not all transactions involve actual cash items, many items have to be re-evaluated when calculating cash flow from operations.

  • DELL Inc. Financial Statements

    Net income from the operation in the year 2005 has increased by 17.38% [calculating by (3,572,000 - 3,043,000)/ 3,043,000] from the operation in the year 2004.

  • Basic EPS: Two-Year Presentation

    statement, beginning with income from operations, for Hillel Corporation for the fiscal years ended May 31, 2006, and May 31, 2007.

  • Computation of net income, responsibility accounting

    Computation of Net Income What useful information do we derive from the computation of Net Income? Do not simply answer with the formula for calculating Net Income - Revenue less Expenses.

  • Calculating cash flow

    The resulting number after accounting for accounts receivable, inventory, accounts payable, interest income, other income, etc. is the net cash flow from operations.

View More Related Solutions