Kinney A.. had the following assets and liabilities on the dates indicated. Kinney began business on January

Kinney A.Ş. had the following assets and liabilities on the dates indicated.

Kinney began business on January 1, 2024, with an investment of ₺100,000.
Instructions From an analysis of the change in equity during the year, compute the net income (or loss) for:

a. 2024, assuming Kinney’s paid ₺12,000 in dividends for the year.

b. 2025, assuming shareholders made an additional investment of ₺34,000 and Kinney paid no dividends in 2025.

c. 2026, assuming shareholders made an additional investment of ₺12,000 and Kinney paid dividends of ₺25,000 in 2026.
Analyze financial statements items.

Transcribed Image Text:

December 31 Total Assets Total Liabilities 2024 400,000 250,000 2025 460,000 300,000 2026 590,000 400,000