Multiple Choice
Benito Company began the year with equity of $525,000. During the year, the company recorded revenues of $750,000, expenses of $570,000, and paid dividends of $60,000. What was Benito's equity at the end of the year?
A) $765,000.
B) $645,000.
C) $1,215,000.
D) $705,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q55: Revenues are<br>A) the cost of assets consumed
Q57: If expenses are paid in cash, then<br>A)
Q58: Vita Corporation performed services on account for
Q60: The two primary accounting standard-setting bodies are
Q61: Which of the following would not be
Q62: Sources of increases to equity are<br>A) issuance
Q63: Expenses are increases in equity that result
Q64: At October 1, Smithson Enterprises reported equity
Q190: A private accountant can perform many activities
Q213: Accountants do not have to worry about