9. During the current month, the company completed the transactions listed below. The owner invested P250,000 cash in the business. Purchased delivery equipment for P32,000 on account. Received a bill for P9,600 for equipment repairs that will be paid next month. Performed delivery services for P128,000; received P44,000 in cash immediately and the remainder was on account. Issued check for P5,000 for a newspaper advertisement. Issued check for P7,500 for current month's utilities. The owner withdrew P15,000 cash for personal use. Received P9,000 on account from credit clients. Determine the balance of Owner's Equity.
9. During the current month, the company completed the transactions listed below. The owner invested P250,000 cash in the business. Purchased delivery equipment for P32,000 on account. Received a bill for P9,600 for equipment repairs that will be paid next month. Performed delivery services for P128,000; received P44,000 in cash immediately and the remainder was on account. Issued check for P5,000 for a newspaper advertisement. Issued check for P7,500 for current month's utilities. The owner withdrew P15,000 cash for personal use. Received P9,000 on account from credit clients. Determine the balance of Owner's Equity.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please answer the question correctly. Thanks
Transcribed Image Text:9. During the current month, the company completed the transactions listed
below.
The owner invested P250,000 cash in the business.
Purchased delivery equipment for P32,000 on account.
Received a bill for P9,600 for equipment repairs that will be paid next month.
Performed delivery services for P128,000; received P44,000 in cash
immediately and the remainder was on account.
Issued check for P5,000 for a newspaper advertisement.
Issued check for P7,500 for current month's utilities.
The owner withdrew P15,000 cash for personal use.
Received P9,000 on account from credit clients.
Determine the balance of Owner's Equity.
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