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Smith manufacturing has $80,000 in assets. They also have $30,000 in liabilities and $8,000 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?

Smith manufacturing has $80,000 in assets. They also have $30,000 in liabilities and $8,000 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 Intro Concepts Meth/Uses
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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Hello tutor please give answer the financial accounting question

Smith manufacturing has $80,000 in assets. They also have $30,000 in liabilities and $8,000 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?
Transcribed Image Text:Smith manufacturing has $80,000 in assets. They also have $30,000 in liabilities and $8,000 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?
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