Finding the dividends to the owners


Garcia Company began 2010 with net assets of $80,000. Net income calculated by using the capital maintenance concept was $21,000. During 2010 owners contributed $26,000 of new capital. By year-end, the net assets totaled $78,000. Dividends to the owners during 2010 were:

a) $49,000

b) $28,000

c) $23,000

d) $2,000

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Finding the dividends to the owners
Reference No:- TGS096824

Expected delivery within 24 Hours