15. Use the following information for questions 15 to 17 Rodel's Car Repair Shop started the year with total assets of P270,000 and total liabilities of P180,000. During the year, the business recorded P450,000 in car repair revenue, P255,000 in expenses, and Rodel withdrew P45,000. Rodel's Capital balance at the end of the year was P240,000 P225,000 P285,000 P90,000 16. The net income reported by Rodel's Car Repair Shop for the year was P150,000 P195,000 P90,000 P405,000 17. Rodel's Capital balance changed by what amount from the beginning of the year to the end of the year? P150,000 P45,000 P195,000 P90,000
15. Use the following information for questions 15 to 17 Rodel's Car Repair Shop started the year with total assets of P270,000 and total liabilities of P180,000. During the year, the business recorded P450,000 in car repair revenue, P255,000 in expenses, and Rodel withdrew P45,000. Rodel's Capital balance at the end of the year was P240,000 P225,000 P285,000 P90,000 16. The net income reported by Rodel's Car Repair Shop for the year was P150,000 P195,000 P90,000 P405,000 17. Rodel's Capital balance changed by what amount from the beginning of the year to the end of the year? P150,000 P45,000 P195,000 P90,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![15. Use the following information for questions 15 to
17
Rodel's Car Repair Shop started the year with total
assets of P270,000 and total liabilities of
P180,000. During the year, the business recorded
P450,000 in car repair revenue, P255,000 in
expenses, and Rodel withdrew P45,000.
Rodel's Capital balance at the end of the year was
P240,000
P225,000
P285,000
P90,000
16. The net income reported by Rodel's Car Repair
Shop for the year was
P150,000
P195,000
P90,000
P405,000
17. Rodel's Capital balance changed by what amount
from the beginning of the year to the end of the
year?
P150,000
P45,000
P195,000
P90,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fadaa98ce-578c-4fa0-92d1-426be04be8b4%2Fe73ec760-801c-4d73-a5d0-424ee2b76996%2Fnj7qmy_processed.jpeg&w=3840&q=75)
Transcribed Image Text:15. Use the following information for questions 15 to
17
Rodel's Car Repair Shop started the year with total
assets of P270,000 and total liabilities of
P180,000. During the year, the business recorded
P450,000 in car repair revenue, P255,000 in
expenses, and Rodel withdrew P45,000.
Rodel's Capital balance at the end of the year was
P240,000
P225,000
P285,000
P90,000
16. The net income reported by Rodel's Car Repair
Shop for the year was
P150,000
P195,000
P90,000
P405,000
17. Rodel's Capital balance changed by what amount
from the beginning of the year to the end of the
year?
P150,000
P45,000
P195,000
P90,000
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