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Using the accounting equation Alan Light works balance sheet data at May 31 2016 and June 30 2016 follow For each of the following situations with regard to common stock and dividends of a

Using the accounting equation Alan Light-works balance sheet data at May 31, 2016, and June 30, 2016, follow:

 For each of the following situations with regard to common stock and dividends of a corporation, compute the amount of net income or net loss during June 2016.

a. The company issued $12,500 of common stock and paid no dividends.

b. The company issued no common stock. It paid cash dividends of $8,000.

c. The company issued $35,000 of common stock and paid cash dividends of $30,000.

Apr 22 2020 View more View Less

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