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    Mar 24, 2013, 09:58 AM
    Solving for Revenue & Expense
    When given previous year's year end assets, liability, and equity as well as present year's end assets, liability, and equity and provided with either total expenses or total revenue (solving for missing figure, one or the other will be provided) how do you calculate the missing figure?

    Ex.

    Pittman Rose Beckman Jaffe
    12/31/10:
    Assets 80,000 100,000 120,000 150,000
    Liabilities 50,000 40,000 75,000 60,000
    Equity 30,000 60,000 45,000 90,000

    12/31/11:
    Assets 100,000 130,000 180,000 225,000
    Liabilities 55,000 62,000 70,000 80,000
    Equity 45,000 68,000 110,000 145,000

    During 2011:
    Total Revenues ? 400,000 ? 500,000
    Total Expenses 330,000 ? 360,000 ?

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