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EastWind [94]
3 years ago
15

During its first year of operations, Anthony Lupa set up Lupo Inc. and invested $15,000 in the corporation. The company earned $

35,000 of revenues and incurred $23,000 of expenses. A cash dividend of $2,000 was paid to Anthony. At the end of the year, the company's equity totaled:__________.a. $13,000b. $15,000c. $25,000d. $75,000
Business
1 answer:
Annette [7]3 years ago
6 0

Answer:

Company's equity = $25,000

Explanation:

Given:

Amount invested = $15,000

Earned Revenue = $35,000

Expenses = $23,000

Cash dividend = $2000

Find:

Company's equity

Computation:

Company's equity = $15,000 + $35,000 - $23,000 - $2,000

Company's equity = $25,000

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