Monopinkladies Posts: 1, Reputation: 1 New Member #1 Jan 31, 2010, 03:37 PM
calculate total revenue
After several hours of trying to figure this out. Net income - expenses = revenue. The problem is that the question says not all items listed are included in the calculation of total revenue. Assets - liabilities - capital stock = retained earnings (We are given retained earnings as 6,400)
Net income - expenses = revenue

I guess Im just really confused are we suppose to calculate net income, calculate expenses and subtract to find Total revenue?

Using the following information, compute total revenues. Caution: Not all of the items listed should be included in the computation of total revenues.
Cost of goods sold.. . \$10,200 Wages payable.. . \$ 475
Interest revenue.. . 900 Accounts receivable.. . 950
Advertising expense.. . 2,150 Retained earnings.. . 6,400
Cash.. . 700 Consulting revenue.. . 2,700
Sales.. . 13,600
 morgaine300 Posts: 6,561, Reputation: 276 Uber Member #2 Feb 4, 2010, 10:17 PM
Net income - expenses = revenue
Let's fix this and that might help.

Revenues - expenses = Net income

Therefore to go backwards: net income PLUS expenses = revenue.
 Yugandha Posts: 1, Reputation: 1 New Member #3 Jul 12, 2012, 12:01 AM
It should be

17200 = 900(Int. revenue )+13600(Sales) + 2700 ( Consulting revenue)
 paraclete Posts: 2,706, Reputation: 173 Ultra Member #4 Jul 12, 2012, 12:27 AM
After several hours of trying to figure this out. Net income - expenses = revenue. The problem is that the question says not all items listed are included in the calculation of total revenue. Assets - liabilities - capital stock = retained earnings (We are given retained earnings as 6,400)
Net income - expenses = revenue

I guess I'm just really confused are we suppose to calculate net income, calculate expenses and subtract to find Total revenue?

Using the following information, compute total revenues. Caution: Not all of the items listed should be included in the computation of total revenues.
Cost of goods sold . . . . . . . \$10,200 Wages payable . . . . . . . . \$ 475
Interest revenue . . . . . . . . . . 900 Accounts receivable . . . . 950
Advertising expense . . . . . . 2,150 Retained earnings . . . . . . 6,400
Cash . . . . . . . . . . . . . . . . . . 700 Consulting revenue . . . . . 2,700
Sales . . . . . . . . . . . . . . . . . 13,600
look you are given a number of items both revenue and expenses as well as some balance sheet items

13600 -10200 = gross profit
2700 + 900 = other income
2150+475 = expenses
obviously none of these numbers will give you net profit

total revenue = sales + other income
if you want to take the net income road then gross profit + other income

 Question Tools Search this Question Search this Question: Advanced Search

## Check out some similar questions!

How do you calculate revenue? [ 6 Answers ]

hello, I was wandering if someone could help me figure out how much revenue this company made for the year. the only thing given is: Beginning of Year assets - 125,000 beginning of year liabilities - 65,000 ...

Year end total revenue from total expenses [ 2 Answers ]

I have a financial statement for a non-profit for four clinics, where you have to fill in the missing values. If you have a missing value for total revenue and have the value for total expenses and visa versa. How do you calculate the missing value? Do you obtain it from the...

Finding total revenue with limited info [ 1 Answers ]

Green Company reported the following amounts at the end of its first year of operations: Contributed Capital \$30,000 Total Expenses \$61,000 Total Assets \$90,000 Dividends \$16,000 Total Liabilities \$25,000 Calculate the total revenues earned by Green Company during its first year of...

How to calculate total revenue and dividends [ 8 Answers ]

I am stuck on one question with two parts. I have tried to work on this for several hours and attempted to look up and Google for any help. A. I have to find the total revenue of a business with only summaries of data from the balance sheet, income statement and retained earnings...