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Except for net income, inv P11,000 by the owner, no other accounting equation, compute net i

Except for net income, inv P11,000 by the owner, no other accounting equation, compute net i

FINANCIAL ACCOUNTING
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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Excent for net income, investment of P30,000 by the owner, and a withdrawal of D11 000 by the owner, no other items affected the owner's capital account. Using the accounting equation, compute net income for 2019.
Transcribed Image Text:Excent for net income, investment of P30,000 by the owner, and a withdrawal of D11 000 by the owner, no other items affected the owner's capital account. Using the accounting equation, compute net income for 2019.
Exercise 7 The accounts of Greenfield Company with the increases or decreases that occurred during the year 2019 are as follows: Increase Decrease Cash P250,000 Accounts Receivable Accounts Payable Notes Payable P 50,000 110,000 160,000
Transcribed Image Text:Exercise 7 The accounts of Greenfield Company with the increases or decreases that occurred during the year 2019 are as follows: Increase Decrease Cash P250,000 Accounts Receivable Accounts Payable Notes Payable P 50,000 110,000 160,000
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