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Accounting test question
If you have $465,000.00 beginning of year in retained earnings, during the year $630,000.00 in common stocks were issued, $1,800,00.00 in expenses, $120,000.00 in paid dividends, if ending retained revenue/ earnings of $495,000.00 what is the revenue for the year
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Here are the formulas you need:
Ending Equity = Beginning Equity + Common Stock issued + Net Income - Cash Dividends = Ending Equity Rewritten as: Net Income = Ending Equity - Beginning Equity - Common Stock Issued + Cash Dividends Net Income = Revenues - Expenses Rewritten as: Revenues = Net Income + Expenses |
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