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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
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Most, Inc.’s comparative balance sheet at January 31, 2013, and 2012, reports the following (in millions):
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|
 |
 |
 |
|
2013 |
2012 |
|
|
Total assets |
$35 |
$31 |
|
Total liabilities |
12 |
7 |
|
 |
 |
 |
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Three situations about Most’s issuance of stock and payment of dividends during the year ended January 31, 2013, follow. For each situation, use the accounting equation and the statement of retained earnings to compute the amount of Most’s net income or net loss during the year ended January 31, 2013.
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1. Most issued $4 million of stock and paid no dividends.
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2. Most issued no stock but paid dividends of $4 million.
3. Most issued $10 million of stock and paid dividends of $50 million
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