ParrishSheets Chapter 1 Homework Quiz andria Henshaw Attempt

Parrish-Sheets Chapter 1 Homework Quiz andria Henshaw: Attempt 1 Question 16 (1 point) Calculate the missing amount for each of the following situations. Revenues for 2014 Dividends declared in 2014 Expenses for 2014 January 1 retained earnings balance December 31 retained earnings balance $3,000 56,000 $8,000 $9,000 Make sure your answer does not include a \"$\" (dollar sign) or number; such as \"55000\". abs Save Question 17 (1 point)

Solution

Calculate Revenue for 2014 :

Net income = Beginning retained earnings-Dividend declared-Ending retained earnings

= 8000-3000-9000

Net income = 4000

Revenue = Net income+Expenses

= 4000+6000

Revenue = 10000

So Revenue for 2014 is $10000