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During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Stockholders’ equity changed by

A. +$205,000
B. -$197,000
C. +$213,000
D. +$197,000

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During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Snowtown Corporation had

A. net income of $123,000
B. net income of $205,000
C. net income of $435,000
D. net loss of $135,000

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Jammer Corporation holds cash of $8,000 and owes $21,000 on accounts payable. Jammer has accounts receivable of $33,000, inventory of $28,000, and land that cost $42,000. How much are Jammer’s total assets and liabilities?

A. Total Assets$83,000; Liabilities$49,000
B. Total Assets$69,000; Liabilities$63,000
C. Total Assets$111,000; Liabilities$49,000
D. Total Assets$111,000; Liabilities$21,000

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Which item(s) is(are) reported on the balance sheet?

A. Inventory
B. Accounts payable
C. Retained earnings
D. All of the listed choices

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During the year, McKenna Company’s stockholders’ equity increased from $99,000 to $115,000. McKenna earned net income of $25,000. Assume no changes in the capital stock accounts. How much in dividends did McKenna declare during the year?

A. $25,000
B. $0
C. $9,000
D. $16,000

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During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Stockholders’ equity changed by

A. +$205,000 B. -$197,000 C. +$213,000 D. +$197,000

During the year, Snowtown Corporation has $320,000 in revenues, $115,000 in expenses, and $8,000 in dividend declarations and payments. Snowtown Corporation had

Jammer Corporation holds cash of $8,000 and owes $21,000 on accounts payable. Jammer has accounts receivable of $33,000, inventory of $28,000, and land that cost $42,000. How much are Jammer’s total assets and liabilities?

Which item(s) is(are) reported on the balance sheet?

During the year, McKenna Company’s stockholders’ equity increased from $99,000 to $115,000. McKenna earned net income of $25,000. Assume no changes in the capital stock accounts. How much in dividends did McKenna declare during the year?

A. +$205,000
B. -$197,000
C. +$213,000
D. +$197,000