Evaluate how much shareholders initially invest in business

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Reference no: EM132690341

Problem 1: Annapolis Corporation's trial balance included debits to expense accounts of $105,000, credits to revenue accounts of $225,000, and debits to the Dividends account of $50,000. Based on this information, what is the amount of the company's net income or loss. Enter a loss as a negative number.

Problem 2: Baltimore Company reports total assets and total liabilities of $276,000 and $110,000, respectively, at the conclusion, of its first year of business. The company earned $67,500 during the first year, and distributed $28,000 to shareholders as dividends. How much did shareholders initially invest in the business?

Reference no: EM132690341

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