document.write( "Question 202135: If 12/31/2002 assets were $80,000, liabilities were $50,000, equity was $30,000 and 12/31/2003 assets were $100,000, liabilities were $55,000 and equity was $45,000, then were the total revenues in 2003 if the expenses were $330,000? Seriously, that is all of the information I have and I am so stuck. \n" ); document.write( "
Algebra.Com's Answer #153894 by MathTherapy(10552)![]() ![]() You can put this solution on YOUR website! \n" ); document.write( "Since stockholder's equity increased by $15,000, from $30,000 in 2002 to $45,000 in 2003, it's obvious that this increase was a result of an increase in net profits at 2003 year-end. \r \n" ); document.write( " \n" ); document.write( "\n" ); document.write( "Now, since expenses were $330,000 for that year, then the increase in equity would be added back to the expenses of $330,000 to get the revenues for 2003. This calculates to $ |