Question

In: Accounting

Presented below are data for Wildhorse Co.

Presented below are data for Wildhorse Co.



20202021
Assets, January 1

$6835

?
Liabilities, January 1

?

$4109
Stockholders' Equity, Jan. 1

?

$4117
Dividends

845

974
Common Stock

917

969
Stockholders' Equity, Dec. 31

?

3402
Net Income

1016

?


Net income for 2021 is

$715 loss.

$207 income.

$715 income.

$259 loss.

Solutions

Expert Solution

Net income = Stockholders equity , Dec 31 - Common stock issued - Stockholders equity, Jan 1 + Dividends

=$3,402-$52-$4,117+$974

=$207 income

Answer is option B - $207 income

*Common stock issued = Common stock 2021 - common stock 2020

=$969-$917 =$52

ekkarill92 answered 2 years ago
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