Question

Financial information related to Oak Tree Interiors for October and November 2012 is as follows:


a. Prepare balance sheets for Oak Tree Interiors as of October 31 and as of November 30, 2012.
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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  • CreatedFebruary 04, 2014
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