Analisa Company reported the following changes in its account balances:IncreasesAssets3,560,000Liabilities1,080,000Share capital2,400,000Share premium 240,000There was a dividend payment of P600,000, what is the net income or loss for thecurrent year? (Put a negative amount if it is a loss).A. P320,000 lossB. P440,000 incomeC. P260,000 incomeD. P260,000 loss

Solution: Total increase in net assets = 3,560,000 - P1,080,000 = P2,480,000 Increase in net asset…

Answered: Analisa Company reported the following…

Analisa Company reported the following changes in its account balances: Increases Assets 3,560,000 Liabilities 1,080,000 Share capital 2,400,000 Share premium 240,000

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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