The changes in account balances for Elder Company for 2021 are as follows:
Assets $ 495...
Business, 16.04.2020 01:48 kiekie1986
The changes in account balances for Elder Company for 2021 are as follows:
Assets $ 495,000 debit
Common stock 245,000 credit
Liabilities 154,000 credit
Paid-in capital—excess of par 27,000 credit
Assuming the only changes in retained earnings in 2021 were for net income and a $63,000 dividend, what was net income for 2021?
a.$96,000.
b.$136,000.
c.$69,000.
d.$132,000.
Answers: 3
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