Been There Used Furniture Been There Used Furniture began operation on January 1,2013,with an initial investment of $100,000 from each of its five stockholders.During the year,the company had net income of $200,000 and paid dividends of $50,000.
-Refer to Been There Used Furniture.If the company's revenues were $500,000 for the year ended December 31,2013,how much were total expenses?

Question

Quizplus · Accepted Answer

Total expenses can be calculated by subtracting net income from revenues: $500,000 (revenues) - $200,000 (net income) = $300,000 (total expenses).

Been There Used Furniture Been There Used Furniture Began Operation