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Assets DECREASED by $200,000 during the year. Liabilities INCREASED by $60,000 during the year. Dividends for the year were $100,000. Expenses for the year were $400,000. Capital Contributions during the year were $50,000. Compute REVENUES for the year.

Assets DECREASED by $200,000 during the year. Liabilities INCREASED by $60,000 during the year. Dividends for the year were $100,000. Expenses for the year were $400,000. Capital Contributions during the year were $50,000. Compute REVENUES for the year.

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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Assets DECREASED by $200,000 during the year. Liabilities INCREASED by $60,000 during the year. Dividends for the year were $100,000. Expenses for the year were $400,000. Capital Contributions during the year were $50,000. Compute REVENUES for the year.
Transcribed Image Text:Assets DECREASED by $200,000 during the year. Liabilities INCREASED by $60,000 during the year. Dividends for the year were $100,000. Expenses for the year were $400,000. Capital Contributions during the year were $50,000. Compute REVENUES for the year.
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