Lefty Company began the year with owner's equity of $105,000. During the year, Lefty received additional owner investments of $147,000, recorded expenses of $420,000, and had owner drawings of $28,000. If Lefty's ending owner's equity was $290,000, what was the company's revenue for the year?

Question

Quizplus · Accepted Answer

The Answer of Lefty Company began the year with owner's equity of $105,000. During the year, Lefty received additional owner investments of $147,000, recorded expenses of $420,000, and had owner drawings of $28,000. If Lefty's ending owner's equity was $290,000, what was the company's revenue for the year?

Lefty Company Began the Year with Owner's Equity of $105,000