6. Revenues total P10,200, expenses total P7,300, and the owner's withdrawalk account has a balance of P2,600. What is the balance in the income summary account prior to closing net income or net loss? a. P2,900 debit b. P300 debit c. P2,900 credit d. P300 credit Post-Closing Trial Balance Jewel Cherry, capital Cash Accounts receivable Accounts payable Unearned service revenue Supplies Equipment P 54,900 35,200 10,900 3,500 6,850 1,200 10,600 Land 15,400 Accumulated depreciation 7. Refer to the table; calculate the total amount in the credit column of the post- closing trial balance. a. P50,900 b. P73,300 C. P63,700 d. impossible to determine from the given data 8. Using the data in table, the balance in accumulated depreciation must be; а. Р8,050 b. P10,200 C. P65,250 d. impossible to determine from the given data 322
6. Revenues total P10,200, expenses total P7,300, and the owner's withdrawalk account has a balance of P2,600. What is the balance in the income summary account prior to closing net income or net loss? a. P2,900 debit b. P300 debit c. P2,900 credit d. P300 credit Post-Closing Trial Balance Jewel Cherry, capital Cash Accounts receivable Accounts payable Unearned service revenue Supplies Equipment P 54,900 35,200 10,900 3,500 6,850 1,200 10,600 Land 15,400 Accumulated depreciation 7. Refer to the table; calculate the total amount in the credit column of the post- closing trial balance. a. P50,900 b. P73,300 C. P63,700 d. impossible to determine from the given data 8. Using the data in table, the balance in accumulated depreciation must be; а. Р8,050 b. P10,200 C. P65,250 d. impossible to determine from the given data 322
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:Revenues total P10,200, expenses total P7,300, and the owner's withdrawalk
account has a balance of P2,600. What is the balance in the income summany
account prior to closing net income or net loss?
a. P2,900 debit
b. P300 debit
6.
c. P2,900 credit
d. P300 credit
с.
Post-Closing Trial Balance
Jewel Cherry, capital
Cash
P 54,900
35,200
Accounts receivable
10,900
3,500
Accounts payable
Unearned service revenue
Supplies
Equipment
6,850
1,200
10,600
Land
15,400
Accumulated depreciation
7. Refer to the table; calculate the total amount in the credit column of the post-
closing trial balance.
a. P50,900
b. P73,300
C. P63,700
d. impossible to determine from the given data
8. Using the data in table, the balance in accumulated depreciation must be;
а. Р8,050
b. Р10,200
C. P65,250
d. impossible to determine from the given data
322
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