Question - Following are the total assets and liabilities at the beginning and end of the year for Alcott Corporation:
Show the effect of each of the transactions below on total assets and the current ratio by
Determine the net income or loss for the year in each of the following situations:
a. The stockholders made no investments in the business and no dividends were paid during the year.
b. The stockholders made an investment of $10,000 and a dividend of $25,000 was paid during the year.