Answered: Blossom Company began the year with… | bartleby

SWFT Essntl Tax Individ/Bus Entities 2020

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter5: Business Deductions

Section: Chapter Questions

Problem 35P

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Question

What is the company’s revenue?

Blossom Company began the year with
owner's equity of $ 106700. During the year,
Blossom received additional owner
investments of $ 146400, recorded expenses
of $ 412000, and had owner drawings of $
29100. If Blossom's ending owner's equity
was $ 290300, what was the company's
revenue for the year?
$ 449200.
$ 478300.
$ 624700.
$ 595600.

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