X Company plans to prepare annual financial statements. After the company's first year of operation, the...
X Company plans to prepare annual financial statements. After the company's first year of operation, the following financial statement information is available:
| Balance Sheet | |
| Total assets | $14,450 |
| Total liabilities | 8,579 |
| Total Paid-In Capital | 4,825 |
| Income Statement | |
| Total expenses | $20,335 |
What was total revenue for the year?
Homework Answers
| Total Asset =Total Liabilities +Total Paid in Capital + ( Revenue - Expense) |
| 14450=8579+4825+(Revenue-20335) |
| 14450=13404+ (Revenue-20335) |
| 1046= Revenue- 20335 |
| Revenue= 20335+1046=$21381 |
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X Company plans to prepare annual financial statements. After
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