Assistance with calculating net income or loss
Liabilities 320,000, decreased by 18,000, assets increased by 65,000, paid in capital increased from 30,000 to 192,000, dividends paid and declared 25,000 with a total year end of 429,000© BrainMass Inc. brainmass.com June 4, 2020, 12:57 am ad1c9bdddf
Using the equation
Total assets = Total liabilities + Equity
Assets increased 65,000 and liabilities ...
The solution shows all the steps for how to calculate the amount of net income or loss in the given accounting problem.