TOTALS January 1 $ 5,000 December 31 Current assets $ 10,000 All other assets 150,000 150,000 Liabilities 25,000 30,000 Common stock 50,000 65,000 Retained earnings Additional data: Total expenses for the year were $35,000; Dividends paid during the year were $8,000. 3. Using the information provided above by Kyle Brown Company, determine the revenues for the year ending on December 31. A. $16,000 B. $37,000 C. $28,000 D. $22,000

TOTALS January 1 $ 5,000 December 31 Current assets $ 10,000 All other assets 150,000 150,000 Liabilities 25,000 30,000 Common stock 50,000 65,000 Retained earnings Additional data: Total expenses for the year were $35,000; Dividends paid during the year were $8,000. 3. Using the information provided above by Kyle Brown Company, determine the revenues for the year ending on December 31. A. $16,000 B. $37,000 C. $28,000 D. $22,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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