Dario Company began the year with owner's equity of $120,000. During the year, Dario received an additional owner investment of $95,000, recorded expenses of $370,000, and had owner drawings of $40,000. If Dario's ending owner's equity was $250,000, what was the company's revenue for the year?

Dario Company began the year with owner's equity of $120,000. During the year, Dario received an additional owner investment of $95,000, recorded expenses of $370,000, and had owner drawings of $40,000. If Dario's ending owner's equity was $250,000, what was the company's revenue for the year?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 7RE

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I need help with this general accounting question using standard accounting techniques.

Dario Company began the year with owner's equity of
$120,000. During the year, Dario received an additional
owner investment of $95,000, recorded expenses of
$370,000, and had owner drawings of $40,000.
If Dario's ending owner's equity was $250,000, what
was the company's revenue for the year?

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