Question

Great City Builders’ balance sheet data at May 31, 2014, and June 30, 2014, follow:


For each of the following situations with regard to common stock and dividends of a corporation compute the amount of net income or net loss during June 2014.
a. The company issued $ 6,000 of common stock and paid no dividends.
b. The company issued no common stock. It paid cash dividends of $ 10,000.
c. The company issued $ 18,000 of common stock and paid cash dividends of $20,000.


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  • CreatedJanuary 16, 2015
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