Create an account to track your scores
and create your own practice tests:
Test: CPA Financial Accounting and Reporting (FAR)
1. | Fairway Company began Year 3 with owner's equity of $60,000 and ended Year 3 with owner's equity of $94,000. During the Year, Fairway issued 1,000 shares of new stock at a par value of $10 per share when the market value was $15 per share. Fairway also paid out a cash dividend of $2 per share to 20,000 shareholders during the year. What was net income for the year? |
$64,000
$104,000
$59,000
$84,000
Chandni
Certified Tutor
Certified Tutor
Miami University-Middletown, Bachelor of Science, Biology, General. Wright State University-Main Campus, Master of Science, A...
Andrew
Certified Tutor
Certified Tutor
Concordia College - Moorhead, Bachelor of Chemistry, Chemistry. University of Notre Dame, Doctor of Science, Organic Chemistry.
Popular Subjects
GRE Tutors in Boston, ACT Tutors in Seattle, Biology Tutors in Houston, Calculus Tutors in Boston, Calculus Tutors in Atlanta, Math Tutors in San Francisco-Bay Area, Spanish Tutors in Boston, Spanish Tutors in Miami, MCAT Tutors in Los Angeles, ISEE Tutors in Boston
Popular Courses & Classes
ACT Courses & Classes in Philadelphia, SAT Courses & Classes in Houston, Spanish Courses & Classes in Denver, LSAT Courses & Classes in Dallas Fort Worth, MCAT Courses & Classes in Denver, ACT Courses & Classes in Los Angeles, SAT Courses & Classes in Washington DC, LSAT Courses & Classes in Seattle, SAT Courses & Classes in Los Angeles, Spanish Courses & Classes in San Diego
Popular Test Prep
SSAT Test Prep in Denver, GMAT Test Prep in Washington DC, LSAT Test Prep in Denver, ACT Test Prep in San Francisco-Bay Area, MCAT Test Prep in Boston, SAT Test Prep in New York City, GRE Test Prep in New York City, GMAT Test Prep in Dallas Fort Worth, SAT Test Prep in Chicago, ACT Test Prep in Seattle
