De Guzman Furniture has an Operating Income of P4,012,000.00 in the year ended December 31, 2019. Based on his record book the company incurred an Operating Expenses of P150,000.00 and Cost of Sale of P338,000.00 PROBLEM SOLVING: a. Compute the Gross Income of De Guzman Furniture. b. How much is De Guzman Furniture’s Net Sale?
De Guzman Furniture has an Operating Income of P4,012,000.00 in the year ended December 31,
2019. Based on his record book the company incurred an Operating Expenses of P150,000.00 and
Cost of Sale of P338,000.00
PROBLEM SOLVING:
a. Compute the Gross Income of De Guzman Furniture.
b. How much is De Guzman Furniture’s Net Sale?
Based on the above due to heavy rain and flood, one table set amounting to P90,000.00 has already destroyed. De Guzman Furniture’s owner wanted to survive the said table set and incurred
expenses of P15,000.00. Unfortunately, it cannot be sold anymore.
PROBLEM SOLVING:
a. Determine the Net Profit Before Tax of De Guzman Furniture for the Year ended December 31, 2019.
b. Base on the problem above, how much is their Net Income?
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