Keller Manufacturing has $80,000 in assets. They also have $40,000 in liabilities, $10,000 in expenses, and they paid out $12,000 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?
Keller Manufacturing has $80,000 in assets. They also have $40,000 in liabilities, $10,000 in expenses, and they paid out $12,000 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?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter16: Statement Of Cash Flows: Another Look
Section: Chapter Questions
Problem 18P
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What would Their revenue need to be for their account to be in balance?
Transcribed Image Text:Keller Manufacturing has $80,000 in assets.
They also have $40,000 in liabilities, $10,000 in
expenses, and they paid out $12,000 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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