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The owner of Dynamo Stores has come to you for assistance because his bookkeeper has just moved to another city. The following is the only
The owner of Dynamo Stores has come to you for assistance because his bookkeeper has just moved to another city. The following is the only information his bookkeeper left him. Balance sheets as of December 31, 2023 and 2024. The owner withdrew $105,000 in 2024 for his personal use. The business incurred total expenses of $168,000 for 2024, of which $126,000 was for wages and $42,000 was for advertising. 2024 2023 Assets $ 168,000 $ 210,000 Liabilities $ 42,000 $ 63,000 Capital 126,000 147,000 $ 168,000 $ 210,000 Required: 1. Calculate the profit and total revenue for 2024
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