Exercise 1-6 Changes in Owners’ Equity The following amounts are available from the records of…


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Exercise 1-6 Changes in Owners’ Equity The following amounts are available from the records of… 1 answer below » Exercise 1-6 Changes in Owners’ Equity The following amounts are available from the records of Coaches and Carriages Inc. at the end of the years indicated: December 31            Total Assets         Total Liabilities 2012 $  25,000 $  12,000 2013 79,000 67,000 2014 184,000 137,000 Required 1. View complete question » Exercise 1-6 Changes in Owners’ Equity The following amounts are available from the records of Coaches and Carriages Inc. at the end of the years indicated: December 31            Total Assets         Total Liabilities 2012 $  25,000 $  12,000 2013 79,000 67,000 2014 184,000 137,000 Required 1.        Compute the changes in Coaches and Carriages owners’ equity during 2013 and 2014. 2.        Compute the amount of Coaches and Carriages’ net income (or loss) for 2013 assuming that no dividends were paid and the owners made no additional contributions during the year. 3.        Compute the amount of Coaches and Carriages’ net income (or loss) for 2014 assuming that dividends paid during the year amounted to $10,000 and no additional contributions were made by the owners. View less » Jan 29 2016 12:14 PM

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