Genentech Solutions has $200,000 in assets. They also have $75,000 in liabilities, $25,000 in expenses, and they paid out $12,000 in dividends this year. Using the extended accounting equation, assets = liabilities + (revenue - (expenses + dividends)), what would their revenue need to be for their accounts to be in balance?

Genentech Solutions has $200,000 in assets. They also have $75,000 in liabilities, $25,000 in expenses, and they paid out $12,000 in dividends this year. Using the extended accounting equation, assets = liabilities + (revenue - (expenses + dividends)), what would their revenue need to be for their accounts to be in balance?

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 23E: The following data (in millions) are taken from the financial statements of Target Corporation: a....

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