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Aneli [31]
3 years ago
10

During the current year, assets increased from $11,000 to $19,000, and liabilities decreased from $9,000 to $7,500. If no additi

onal capital contributions were made during the year, dividends totaled $4,000, and expenses totaled $21,000, determine total revenues for the year
Business
1 answer:
garik1379 [7]3 years ago
6 0

Answer:

$34,500

Explanation:

Calculation to determine total revenues for the year

Using this formula

Total revenues=Increase in Assets+Decreased in liabilities+Dividends+Expenses

Let plug in the formula

Total revenues=($11,000-$19,000)+($9,000-$7,500)+$4,000+$21,000

Total revenues=$8,000+$1,500+$4,000+$21,000

Total revenues=$34,500

Therefore total revenues for the year is $34,500

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