Bal Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses, and they paid out $7,500 in dividends this year. The extended accounting equation is assets = liabilities + (revenue (expenses + dividends)). What would their revenue need to be for their accounts to be in balance?
Bal Engineering has $60,000 in assets. They also have $25,000 in liabilities and $5,000 in expenses, and they paid out $7,500 in dividends this year. The extended accounting equation is assets = liabilities + (revenue (expenses + dividends)). What would their revenue need to be for their accounts to be in balance?
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 3MC: The following is selected financial data from Block Industries: How much does Block Industries have...
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Transcribed Image Text:Bal Engineering has $60,000 in assets. They
also have $25,000 in liabilities and $5,000 in
expenses, and they paid out $7,500 in dividends
this year. The extended accounting equation is
assets = liabilities + (revenue (expenses +
dividends)). What would their revenue need to
be for their accounts to be in balance?
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