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1. Inventory, end. ₱162,000; Net purchases, ₱216,000; Cost of goods sold, ₱144,000. How much is the Inventory, beg.? a. 90,000 b. 120,000 c. 144,000 d. 80,000 2. At the beginning of the period, Entity A’s notes payable had a balance of ₱1,200. During the period, Entity A obtained an additional loan of ₱800 and made total payments of ₱500. How much is the ending balance of Entity A’s notes payable? a. 1,800 b. 1,500 c. 1,200 d. 900

1. Inventory, end. ₱162,000; Net purchases, ₱216,000; Cost of goods sold, ₱144,000. How much is the Inventory, beg.? a. 90,000 b. 120,000 c. 144,000 d. 80,000 2. At the beginning of the period, Entity A’s notes payable had a balance of ₱1,200. During the period, Entity A obtained an additional loan of ₱800 and made total payments of ₱500. How much is the ending balance of Entity A’s notes payable? a. 1,800 b. 1,500 c. 1,200 d. 900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Inventory, end. ₱162,000; Net purchases, ₱216,000; Cost of goods sold, ₱144,000. How much is the Inventory, beg.?
a. 90,000
b. 120,000
c. 144,000
d. 80,000


2. At the beginning of the period, Entity A’s notes payable had a balance of ₱1,200. During the period, Entity A obtained an additional loan of ₱800 and made total payments of ₱500. How much is the ending balance of Entity A’s notes payable?
a. 1,800
b. 1,500
c. 1,200
d. 900

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