Maverick Consulting has $75,000 in assets. They also have $30,000 in liabilities and $7,000 in expenses, and they paid out $10,000 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?

Maverick Consulting has $75,000 in assets. They also have $30,000 in liabilities and $7,000 in expenses, and they paid out $10,000 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?

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

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 7GI

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