Ask Experts Questions for FREE Help !
Ask
    TaylorIrene21's Avatar
    TaylorIrene21 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 21, 2014, 02:32 PM
    Sales Revenue from Assets and Liabilities
    BEGINNING
    Assets - 28000
    Liabilities - 18600

    ENDING
    Assets - 30000
    Liabilities - 17300

    DURING THE YEAR
    Sales Revenue -??
    Expenses - 8500
    Dividends - 3000

    What would be the sales revenue?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Jan 21, 2014, 04:48 PM
    First you have to get both the beginning and ending Owners Equity. The formula is: Owners Equity = Assets - Liabilities

    Now you have to account for the change in Owners Equity. The basic formula for this is: Ending Owners Equity = Beginning Owners Equity + Net Income (Revenues - Expenses) - Dividends.


    This formula can be rewritten as:

    Sales Revenue = Ending Owners Equity - Beginning Owners Equity + Expenses + Dividends
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Assets liabilities [ 1 Answers ]

Assets ASSETS LIABILITIES cash assets $10M Demand deposit $10M Short term investment 20M (D=0.25 years) ...

View more questions Search