Sandhill’s shareholders’ equity consists only of common shares and retained earnings. Using the change in total shareholders’ equity calculated in above part, (50000) calculate the net income or loss for the year ended December 31, 2018, assuming each of the following independent scenarios:
1. Sandhill issued no common shares during the year and did not declare any dividends.
Net income or loss
$
2. Sandhill issued no common shares during the year and declared and paid dividends of $11,000.
Net income or loss
$
3. Sandhill issued $35,000 of additional common shares during the year and did not declare any dividends.
Net income or loss
$
4. Sandhill issued $20,000 of additional common shares during the year and declared and paid dividends of $11,000.
Net income or loss
$
My answers:
1. 50000
2.30000
3. 85000
4. 59000
I am fairly new to accounting so please help if I am wrong
0 answers