Volt Corp. reported the following information for the year ended December 31, 2017: Revenues
Volt Corp. reported the following information for the year ended December 31, 2017:
Revenues $50,000
Dividends 25,000
Retained earnings (12/31/16) 100,000
Retained earnings (12/31/17) 105,000
How much were Volt’s total expenses in 2017?
A. $20,000
B. $25,000
C. $30,000
D. $45,000
E. $50,000
Homework Answers
Answer:Option A) is correct. i.e $20,000
| No. | Particulers | Amount($) |
| A | Change in Retained earnings | 5,000 |
| ($105,000-100,000) | ||
| B | Add: Dividends | 25,000 |
| C | Total Profit(A+B) | 30,000 |
| D | Revenues | 50,000 |
| E | Total expenses(D-C) | 20,000 |
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Volt Corp. reported the following information for the year ended
December 31, 2017:
Revenues
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