A firm's owners' equity at the start of the year is $700,000. During the year, the firm earned $500,000 in revenue and incurred $400,000 in expenses, what would be the balance in equity at the end of the year.
Accounting? - PsyDAG, Saturday, August 28, 2010 at 1:12pm
$700,000 + $500,000 - $400,000 = ?