Reference no: EM132974267

Using the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions.

                                                Assets                Liabilities
Beginning of Year:           $25,000                  $19,000
End of Year :                  $62,000       $29,000

Problem 1) What is the equity at the beginning of the year?

Problem 2) What is the equity at the end of the year?

Problem 3) If the company issues common stock of $7,500 and pay dividends of $44,100, how much is net income (loss)?

Problem 4) If net income is $1,300 and dividends are $9,200, how much is common stock?

Problem 5) If the company issues common stock of $18,500 and net income is $18,600, how much is dividends?

Problem 6) If the company issues common stock of $41,500 and pay dividends of $1,900, how much is net income (loss)?