The changes in account balances for Elder Company for 2018 are as follows: Assets $480,000 debit...

 

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The changes in account balances for Elder Company for 2018 are as follows: Assets $480,000 debit Common stock 250,000 credit Liabilities 160,000 credit Paid-in capital-excess of par 30,000 credit Assuming the only changes in retained earnings in 2018 were for net income and a $50,000 dividend, what was net income for 2018? Accumulated other comprehensive income: The changes in account balances for Elder Company for 2018 are as follows: Assets $480,000 debit Common stock 250,000 credit Liabilities 160,000 credit Paid-in capital-excess of par 30,000 credit Assuming the only changes in retained earnings in 2018 were for net income and a $50,000 dividend, what was net income for 2018? Accumulated other comprehensive income:

Answer rating: 100% (QA)

Assets 480000 Common stock 250000 Liabilities 160000 Paid in c... View the full answer