Nguyen Company Began the Year with Owner's Equity of $217,000

question 72

Multiple Choice

Nguyen Company began the year with owner's equity of $217,000. During the year, Nguyen received additional owner investments of $294,000, recorded expenses of $840,000, and had owner drawings of $56,000. If Nguyen's ending owner's equity was $531,000, what was the company's revenue for the year?

• A) $860,000
• B) $916,000
• C) $1,154,000
• D) $1,210,000

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Definitions:

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An imaginary or made-up island, often used in stories or hypothetical scenarios.

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Relating to or corresponding in size, degree, or intensity relative to something else.

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