Assets at the end of the period are $120 000 and liabilities have increased by $36 000.Dividends of $12 000 were declared and paid,and no shares were issued during the period.The net profit or loss during the period is:
A) $96 000 net profit
B) $72 000 net profit
C) $12 000 net loss
D) not determinable from the above information.

Question

Quizplus · Accepted Answer

The Answer of Assets at the end of the period are $120 000 and liabilities have increased by $36 000.Dividends of $12 000 were declared and paid,and no shares were issued during the period.The net profit or loss during the period is:
A) $96 000 net profit
B) $72 000 net profit
C) $12 000 net loss
D) not determinable from the above information.

Assets at the End of the Period Are $120 000