Homework SourseThe following information was taken from the September finan
The following information was taken from the September financial statements of the Hem Corporation. Determine the dollar amount of resources invested by owners as of the end of September.
$130,000
$420,000
$280,000
$220,000
| Assets, September 30 | $700,000 |
| Common Stock, September 30 | $130,000 |
| Dividends, September 1 through September 30 | $15,000 |
| Expenses, September 1 through September 30 | $170,000 |
| Liabilities, September 30 | $420,000 |
| Retained Earnings, September 30 | $150,000 |
| Revenues, September 1 through September 30 | $220,000 |
Solution
Revenues are the dollar amounts of resources brought into a company by management activities. During September, the Hem Corporation\'s revenues were $220,000. Thus, the dollar amount of resources brought into the Hem Corporation by management activities in September was $220,000.
