Question

Financial information related to Montana Interiors for October and November 20Y8 is as follows:


a. Prepare balance sheets for Montana Interiors as of October 31 and as of November 30, 20Y8.
b. Determine the amount of net income for November, assuming that no additional capital stock was issued and no dividends were paid during the month.
c. Determine the amount of net income for November, assuming that no additional capital stock was issued but dividends of $20,000 were paid during themonth.


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  • CreatedMarch 11, 2014
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