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24. Given the following information. What will be the net income P 4,000,000 1,800,000 36,000 1,600,000 100,000 200,000 45,000 Sales, net of returns, and discounts Cost of sales Dividend income, net of final tax Business expenses Gain on sale of old equipment Sale of scrap metals Interest income on employee advances Gain on sale of domestic stocks directly to a buyer 10,000 О а.Р a. P 945,000 O b. P1,000,000 О с.Р950,000 O d. P 845,000

24. Given the following information. What will be the net income P 4,000,000 1,800,000 36,000 1,600,000 100,000 200,000 45,000 Sales, net of returns, and discounts Cost of sales Dividend income, net of final tax Business expenses Gain on sale of old equipment Sale of scrap metals Interest income on employee advances Gain on sale of domestic stocks directly to a buyer 10,000 О а.Р a. P 945,000 O b. P1,000,000 О с.Р950,000 O d. P 845,000

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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24. Given the following information. What will be the net income P 4,000,000 1,800,000 36,000 Sales, net of returns, and discounts Cost of sales Dividend income, net of final tax Business expenses Gain on sale of old equipment Sale of scrap metals Interest income on employee advances Gain on sale of domestic stocks directly to a buyer 1,600,000 100,000 200,000 45,000 10,000 a. P 945,000 О Б. b. P1,000,000 O c.I с. Р 950,000 O d. P 845,000
Transcribed Image Text:24. Given the following information. What will be the net income P 4,000,000 1,800,000 36,000 Sales, net of returns, and discounts Cost of sales Dividend income, net of final tax Business expenses Gain on sale of old equipment Sale of scrap metals Interest income on employee advances Gain on sale of domestic stocks directly to a buyer 1,600,000 100,000 200,000 45,000 10,000 a. P 945,000 О Б. b. P1,000,000 O c.I с. Р 950,000 O d. P 845,000
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