5. A Corporation was started when a group of people invested $20,000 in it. During the first four years of A Corporation’s existence, it had net income of $20,000 each year, In year five, A Corporation had a net loss of $20,000. During these same years, it paid dividends of $10,000, $15,000, $15,000, $10,000, and $ 0. At the end of year 5, the company’s balance sheet showed total liabilities of $10,000. A Corporation’s total assets at the end of year five were:
A) $40,000. B) $20,000. C) $80,000. D) $60,000. E) none of the above.
please explain why the answer is 40,000
2006-10-09
06:58:59
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3 answers
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asked by
Diggler AKA The Cab Driver
1
in
United States