Marilu Company began the year with owner's equity of $15,000. During the year, Marilu received additional owner investments of $21,000, recorded expenses of $60,000, and had owner drawings of $4,000. If Marilu's ending owner's equity was $46,000, what was the company's revenue for the year?

Marilu Company began the year with owner's equity of $15,000. During the year, Marilu received additional owner investments of $21,000, recorded expenses of $60,000, and had owner drawings of $4,000. If Marilu's ending owner's equity was $46,000, what was the company's revenue for the year?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 52E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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Question

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What was the company's revenue for the year?

Marilu Company began the year with owner's equity
of $15,000. During the year, Marilu received
additional owner investments of $21,000, recorded
expenses of $60,000, and had owner drawings of
$4,000. If Marilu's ending owner's equity was $46,000,
what was the company's revenue for the year?

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