Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. P 25,000 50,000 Uneamed Rental Income 5,000 1,500 12,000 2,000 Notes Payable Cash Accrued Insurance Expense Office Equipment Accum. Depreciation - Office Eapmt 8,000 P 10,000 80,000 Unused Supplies Accounts Receivable Allow. for Bad Debts Furniture Accum Depreciation - Fumiture 40,000 2,000 If the owner's drawing is P 100,000 and the beginning owner's equity is P 185,000, How much is the net profit?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year.
P 25,000 Accrued Insurance Expense
50,000 Office Equipment
Notes Payable
Cash
Uneamed Rental Income 5,000 Accum. Depreciation - Office Eapant 8,000
Unused Supplies
Accounts Receivable
Allow. for Bad Debts
P 10,000
s0,000
1,500 Furniture
12,000 Accum Depreciation - Fumiture
2,000
40,000
2,000
If the owner's drawing is P 100,000 and the beginning owner's equity is P 185,000, How much is the net profit?
Transcribed Image Text:Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. P 25,000 Accrued Insurance Expense 50,000 Office Equipment Notes Payable Cash Uneamed Rental Income 5,000 Accum. Depreciation - Office Eapant 8,000 Unused Supplies Accounts Receivable Allow. for Bad Debts P 10,000 s0,000 1,500 Furniture 12,000 Accum Depreciation - Fumiture 2,000 40,000 2,000 If the owner's drawing is P 100,000 and the beginning owner's equity is P 185,000, How much is the net profit?
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