Mack Company started the year with owners' equity of $80,000. During the year, the following transactions occurred: . • Additional owner investment: $95,000 • Expenses: $325,000 Owner drawings: $35,000 If Mack's ending owner's equity was $195,000, what was the company's revenue for the year?

Mack Company started the year with owners' equity of $80,000. During the year, the following transactions occurred: . • Additional owner investment: $95,000 • Expenses: $325,000 Owner drawings: $35,000 If Mack's ending owner's equity was $195,000, 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

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 1RE: Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of...

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General accounting question

Mack Company started the year with owners' equity of $80,000. During
the year, the following transactions occurred:
.
•
Additional owner investment: $95,000
•
Expenses: $325,000
Owner drawings: $35,000 If Mack's ending owner's equity was
$195,000, what was the company's revenue for the year?

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