Question

At the beginning of the year, Vendors, Inc., had owners' equity of $49,265. During the year, net income was $5,625 and the company paid dividends of $3,965. The company also repurchased $7,915 in equity. What was the owners' equity account at the end of the year?

Answer 1

The answer is $43,010

Step-by-step explanation:

This is the changes in the equity statement of account.

Owner's equity at the beginning of the year--------------------------------- $49,265

Net income for the year---- $5,625

Dividend paid---------------------($3,965)

Equity repurchased-------------($7,915)

Owners' equity account at the end of the year----------------------------- $43,010