Bartlett Industries
Bartlett Industries began operations on January 2, 2015, with an investment of $50,000 by each of its two stockholders.Net income for its first year of business was $240,000.Bartlett Industries paid a total of $100,000 in dividends to its stockholders during the year.
-Read the information about Bartlett Industries.If the company's revenues were $500,000 for the year ended December 31, 2015, how much were total expenses?
A)$160,000
B)$260,000
C)$640,000
D)$740,000

Question

Quizplus · Accepted Answer

To find the total expenses, we can use the formula:
Total Expenses = Revenues - Net Income + Dividends
Plugging in the given values, we get:
Total Expenses = $500,000 - $240,000 + $100,000
Total Expenses = $360,000 + $100,000
Total Expenses = $460,000
Therefore, the total expenses for Bartlett Industries for the year ended December 31, 2015, were $260,000.

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