Doc's Ribhouse had beginning equity of $52,000; net income of $35,000,and dividends of $12,000.There were no stockholder investments during the year.Calculate the ending equity.
A)$(5,000).
B)$29,000.
C)$5,000.
D)$99,000.
E)$75,000.

Question

Quizplus · Accepted Answer

Ending equity is calculated as beginning equity plus net income minus dividends. So, $52,000 + $35,000 - $12,000 = $75,000.

Doc's Ribhouse Had Beginning Equity of $52,000; Net Income of $35,000,and