Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
$$\begin{array} { l l l }
& \text { Assets } & \text { Liabilities } \
\text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$$
If stockholders invested an additional $12,000 in the business in exchange for common stock and $5,000 of dividends were paid during the year,what was the amount of net income earned by Jerry's Butcher Shop?

Question

Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
 $$\begin{array} { l l l } 
& \text { Assets } & \text { Liabilities } \
\text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$$ 
If stockholders invested an additional $12,000 in the business in exchange for common stock and $5,000 of dividends were paid during the year,what was the amount of net income earned by Jerry's Butcher Shop?

Quizplus · Accepted Answer

The Answer of Jerry's Butcher Shop had the following assets and liabilities at the beginning and end of the current year:
 $$\begin{array} { l l l } 
& \text { Assets } & \text { Liabilities } \
\text { Beginning of the year } & \$ 114,000 & \$ 68,000 \
\text { End of the year } & 135,000 & 73,000
\end{array}$$ 
If stockholders invested an additional $12,000 in the business in exchange for common stock and $5,000 of dividends were paid during the year,what was the amount of net income earned by Jerry's Butcher Shop?

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