Question

Presented here is information for Edo, Inc. for the year ended August 31, 2013.
Edo, Inc.
Beginning:
Assets .......... $ 99,000
Liabilities .......... 15,000
Ending:
Assets .......... $164,000
Liabilities ........ 70,000
Shareholders’ Equity:
Sale of Shares ...... $ 17,000
Payment of Dividends ... 55,000
Requirements
1. What is the beginning shareholders' equity of Edo, Inc.?
2. What is the ending shareholders’ equity of Edo, Inc.?
3. What is the net income or net loss for the year?


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  • CreatedJuly 08, 2015
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