FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

how do you calculate revenue (see image attatched) 

answer is C

TOTALS January 1 $ 5,000 December 31 Current assets $ 10,000 All other assets 150,000 150,000 Liabilities 25,000 30,000 Common stock 50,000 65,000 Retained earnings Additional data: Total expenses for the year were $35,000; Dividends paid during the year were $8,000. 3. Using the information provided above by Kyle Brown Company, determine the revenues for the year ending on December 31. A. $16,000 B. $37,000 C. $28,000 D. $22,000
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Transcribed Image Text:TOTALS January 1 $ 5,000 December 31 Current assets $ 10,000 All other assets 150,000 150,000 Liabilities 25,000 30,000 Common stock 50,000 65,000 Retained earnings Additional data: Total expenses for the year were $35,000; Dividends paid during the year were $8,000. 3. Using the information provided above by Kyle Brown Company, determine the revenues for the year ending on December 31. A. $16,000 B. $37,000 C. $28,000 D. $22,000
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