Savvy Sightseeing had beginning equity of $72,000; revenues of $90,000,expenses of $65,000,and dividends to stockholders of $9,000; there were no stock issuances.Calculate the ending equity.

Question

Quizplus · Accepted Answer

The ending equity is calculated by starting with the beginning equity, adding revenues, subtracting expenses, and subtracting dividends. So, $72,000 + $90,000 - $65,000 - $9,000 = $88,000.

Savvy Sightseeing Had Beginning Equity of $72,000; Revenues of $90,000,expenses