STOCK 290
STOCK 290
Accounting Question Help? Finding total net income?
the total assets and the total liabilities of a particular business enterprise at the beginning and at the end of they ear are stated below. during the year, dividends of $30,000 were paid and $25,000 of additional CAPITAL STOCK was issued.
Assets Liabilities
Begging of year $290,000 $190,000
End of Year $ 355,000 $ 220,000
You know the basic accounting equation is Assets = Liabilities + Stockholder's Equity, right? Well, the change in (Δ) Assets = Δ Liabilities + Δ Stockholder's Equity.
Δ Assets is $355,000 - 290,000 = 65,000
Δ Liabilities is $220,000 - 190,000 = 30,000
Δ Stockholder's Equity is $65,000 - 30,000 = 35,000
That's the total change in S/E for the year. There were also transactions that affected that balance during the year that are counted in that figure, but should not be in the Net Income.
Δ Stockholders Equity $35,000
Less Additional C/S issued ($25,000)
Plus Dividends paid $30,000
= Net Income $40,000
The COMMON STOCK issued is subtracted because the original transaction increased S/E. Likewise the dividends paid out are added back in because the original transaction decreased S/E.
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