El Centro Company began the year with owner's equity of $30,000. During the year, El Centro received additional owner investments of $42,000, recorded expenses of $120,000, and had owner drawings of $12,000. If El Centro's ending owner's equity was $112,000, what was the company's revenue for the year?

a. $214,000.
b. $172,000.
c. $202,000.
d. $164,000.

Question

eddy2016 eddy2016

01-07-2024
Business

Answered

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El Centro Company began the year with owner's equity of $30,000. During the year, El Centro received additional owner investments of $42,000, recorded expenses of $120,000, and had owner drawings of $12,000. If El Centro's ending owner's equity was $112,000, what was the company's revenue for the year?

a. $214,000.
b. $172,000.
c. $202,000.
d. $164,000.

Sagot :

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