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A company had the following asset and liabilities on the dates indicated: $85,000 O $112,000 O $117,000 $130,000 December 31 $147,000 2012 2013 Total Assets $460,000 The company began business on January 1, 2012 with an investment of $75,000 from stockholders. In 2013, the company issued an additional $30,000 in stock and paid $5,000 in dividends. The company recorded $12,000 of expenses during 2013. How much revenue was recorded in 2013? $690,000 Total Liabilities $300,000 $400,000

A company had the following asset and liabilities on the dates indicated: $85,000 O $112,000 O $117,000 $130,000 December 31 $147,000 2012 2013 Total Assets $460,000 The company began business on January 1, 2012 with an investment of $75,000 from stockholders. In 2013, the company issued an additional $30,000 in stock and paid $5,000 in dividends. The company recorded $12,000 of expenses during 2013. How much revenue was recorded in 2013? $690,000 Total Liabilities $300,000 $400,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company had the following asset and liabilities on the dates indicated: $85,000 O $112,000 O $117,000 $130,000 December 31 $147,000 2012 2013 Total Assets $460,000 $690,000 Total Liabilities The company began business on January 1, 2012 with an investment of $75,000 from stockholders. In 2013, the company issued an additional $30,000 in stock and paid $5,000 in dividends. The company recorded $12,000 of expenses during 2013. How much revenue was recorded in 2013? $300,000 $400,000
Transcribed Image Text:A company had the following asset and liabilities on the dates indicated: $85,000 O $112,000 O $117,000 $130,000 December 31 $147,000 2012 2013 Total Assets $460,000 $690,000 Total Liabilities The company began business on January 1, 2012 with an investment of $75,000 from stockholders. In 2013, the company issued an additional $30,000 in stock and paid $5,000 in dividends. The company recorded $12,000 of expenses during 2013. How much revenue was recorded in 2013? $300,000 $400,000
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