Blossom Company began the year with owner's equity of $ 106700. During the year, Blossom received additional owner investments of $ 146400, recorded expenses of $ 412000, and had owner drawings of $ 29100. If Blossom's ending owner's equity was $ 290300, what was the company's revenue for the year? $ 449200. O$ 478300. O $ 624700. O$ 595600.

Q: What do the Retained earnings represent?

A: Financial Statement:   They are annual reports of an organization summarizing the financial…

Q: What is earnings management?

A: Earnings refer to the amount earned by the business during the financial year. It may vary from year…

Q: In general, what is the concept of earnings and profit designed to represent?

A: When addressing the bottom line of a company's income statement, the concept of earnings is most…

Q: What is accrual accounting and how does it work?

A: Accrual accounting is a system of accounting wherein: Revenues are recognized as and when they are…

Q: How are organization expenses reported?

A: Expense: It can be defined as the cost of running a company's operations to generate or earn…

Q: What is retained earning

A: The retained earnings which is also known as ploughed back profit is expalined…

Q: What are the unofficial earning measures of revenue?

A: Unofficial earning measures of revenue are often called as non-GAAP (Generally Accepted Accounting…

Q: What does the accrual-accounting model measures?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: How did they get the income summary?

A: Lets understand the basics. Income summary is summary which reflects the all the revenue and expense…

Q: What information do we get from the income statement?

A: Income statement is a financial statement which is prepared on periodical basis along with Balance…

Q: How to determine the timing and measurement of revenue.

A: Revenue recognition principle is the principle that determines when and how much amount should be…

Q: What are BreadTalk Group’s main revenue generators?

A: BreadTalk Group is a snack and beverage company based in Singapore. It was founded in the year 2000.…

Q: income statement show

A: Income statement is a part of financial statements.

Q: What is the revenue project?

A: Revenue refers to the income generated by the company by performing certain operations or business…

Q: What is profit contribution

A: The profit is calculated as difference between total revenue earned and total expenses incurred.

Q: What differentiates things reported on the income statement from those reported on the balance sheet…

A: The Answer

Q: How does EVA differ from accounting profit?

A: Introduction: Economic value added is the sum of net earnings over capital costs. EVA corresponds to…

Q: What is gross profit? How do you calculate it?

A: Gross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the…

Q: How does income statements disclosures are made?

A: Income Statement:   It is financial statement of an organization at the end of the period to report…

Q: What is the transaction's profit

A: This question deals with the transaction's profit?

Q: what is asset? what is gross profit?

A: Financial statements: These are the financial reports prepared by an organization for a financial…