Jerry's Shop had the following assets and liabilities at the beginning and end of the current year:

$\begin{array}{lcl}&\text { Assets } & \text { Liabilities } \
\text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$

If there were no stockholder investments or dividends paid during the year, what was the amount of net income earned by Jerry's Shop?

Question

Jerry's Shop had the following assets and liabilities at the beginning and end of the current year:

$\begin{array}{lcl}&\text { Assets } & \text { Liabilities } \
\text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$

If there were no stockholder investments or dividends paid during the year, what was the amount of net income earned by Jerry's Shop?

Quizplus · Accepted Answer

The Answer of Jerry's Shop had the following assets and liabilities at the beginning and end of the current year:

$\begin{array}{lcl}&\text { Assets } & \text { Liabilities } \
\text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$

If there were no stockholder investments or dividends paid during the year, what was the amount of net income earned by Jerry's Shop?

Jerry's Shop Had the Following Assets and Liabilities at the Beginning