Smith Manufacturing has $80,000 in assets. They 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? a) $70,000 b) $50,000 c) $38,000 d) Not enough information

Smith Manufacturing has $80,000 in assets. They 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? a) $70,000 b) $50,000 c) $38,000 d) Not enough information

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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