A private educational institution submitted the following data for the fiscal year ending April 30,2020: Tuition fees P9,500,000 Miscellaneous fees 1,200,000 Cash dividends from domestic 80,000 corporation Income from bookstore 350,000 Interests on peso bank deposit 70,000 Income of school canteen 280,000 Salary, allowances and bonus of employees 6,400,000 Other operating expenses 2,600,000 Other expenditures for improvement of school facilities: Construction of add'l class rooms 1,300,000 (depreciation; P75,000) Furniture and equipment of 400,000 library (depreciation; P50,000)

A private educational institution submitted the following data for the fiscal year ending April 30,2020: Tuition fees P9,500,000 Miscellaneous fees 1,200,000 Cash dividends from domestic 80,000 corporation Income from bookstore 350,000 Interests on peso bank deposit 70,000 Income of school canteen 280,000 Salary, allowances and bonus of employees 6,400,000 Other operating expenses 2,600,000 Other expenditures for improvement of school facilities: Construction of add'l class rooms 1,300,000 (depreciation; P75,000) Furniture and equipment of 400,000 library (depreciation; P50,000)

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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