FDN Accounting Services started operations on November 1, 2021. The following were the transactions during the month: Nov 1 The business owner provided P1,000,000 cash as investment to the business. 5 Obtained a P300,000 loan and issued a promissory note with 10% interest per annum. 8 Acquired land costing P1,000,000 on account. 16 Rendered services worth P1,700,000 on account. 30 Paid salaries expense of P210,000. How much is the ending cash balance?
FDN Accounting Services started operations on November 1, 2021. The following were the transactions during the month: Nov 1 The business owner provided P1,000,000 cash as investment to the business. 5 Obtained a P300,000 loan and issued a promissory note with 10% interest per annum. 8 Acquired land costing P1,000,000 on account. 16 Rendered services worth P1,700,000 on account. 30 Paid salaries expense of P210,000. How much is the ending cash balance?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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FDN Accounting Services started operations on November 1, 2021. The following were the transactions during the month:
Nov 1 The business owner provided P1,000,000 cash as investment to the business.
5 Obtained a P300,000 loan and issued a promissory note with 10% interest per annum.
8 Acquired land costing P1,000,000 on account.
16 Rendered services worth P1,700,000 on account.
30 Paid salaries expense of P210,000.
How much is the ending cash balance?
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