Solution-Problem - Computation of Net Income

Problem - Computation of Net Income

Reference no: EM132455164

Problem - Computation of Net Income

Presented below are changes in the account balance for Fritz Reiner Furniture Co. During the current year, except for retained earnings

	Increase (Decrease)
Cash	79,000
Accounts Receivable (Net)	45,000
Inventory	127,000
Investments	(47,000)
Accounts Payable	(51,000)
Bonds Payable	82,000
Common Stock	125,000
Paid-In-Capital in Excess of Par- Common Stock	13,000

Required - Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $19,000 which was paid in the current year.

Reference no: EM132455164

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Problem - Computation of Net Income

Reference no: EM132455164

Reference no: EM132455164

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