Analysis of BEIJING Company accounts disclosed changes in the following balances for 2021: Cash, P598,000 increase Accounts receivable, P1,125,000 decrease Inventory, P1,000,000 increase Equipment (net), P710,000 increase Accounts payable, P395,000 decrease BEIJING sold 115,000 shares of its P5 par ordinary shares at P8 each and received cash in full. Dividends of P195,000 were paid in cash during the year, Lastly, equipment of P319,000 was donated by a shareholder during the year. How much is the profit/(loss) of BEIJING Company for the year?

Analysis of BEIJING Company accounts disclosed changes in the following balances for 2021: Cash, P598,000 increase Accounts receivable, P1,125,000 decrease Inventory, P1,000,000 increase Equipment (net), P710,000 increase Accounts payable, P395,000 decrease BEIJING sold 115,000 shares of its P5 par ordinary shares at P8 each and received cash in full. Dividends of P195,000 were paid in cash during the year, Lastly, equipment of P319,000 was donated by a shareholder during the year. How much is the profit/(loss) of BEIJING Company for the year?

Name: Analysis of BEIJING Company accounts disclosed changes in the followi
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Description: Analysis of BEIJING Company accounts disclosed changes in the following balances for 2021:Cash, P598,000 increaseAccounts receivable, P1,125,000 decreaseInventory, P1,000,000 increaseEquipment (net), P710,000 increaseAccounts payable, P395.000 decre

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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