Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable P 25,000 50,000 Accrued Insurance Expense Office Equipment P 10,000 80,000 Cash Unearned Rental Income 5,000 Accum. Depreciation - Office Eapmat, 8,000 Unused Supplies 1,500 Furniture 40,000 2,000 Accounts Receivable Allow for Bad Debts 12,000 Accum Depreciation - Furniture 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?

Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable P 25,000 50,000 Accrued Insurance Expense Office Equipment P 10,000 80,000 Cash Unearned Rental Income 5,000 Accum. Depreciation - Office Eapmat, 8,000 Unused Supplies 1,500 Furniture 40,000 2,000 Accounts Receivable Allow for Bad Debts 12,000 Accum Depreciation - Furniture 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

Section: Chapter Questions

Problem 1Q

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