Give worksheet, determine the net income or loss for the period: Income Statement Balance Sheet Debit Credit Debit Credit P6,800 P9,500 P7,400 P4,700 a P4,700 net income b. P2,700 net income c. P2,700 net loss d. P6,800 net loss 4 Given the following totals of the financial statements columns of the worksheet, determine the net income or loss for the period: Income Statement Balance Sheet Debit Credit Debit Credit P8,500 P6,750 P4,300 P6,050 a. P8,500 net loss b. P1,750 net income C. P4,300 net income d. P1,750 net loss 325
Give worksheet, determine the net income or loss for the period: Income Statement Balance Sheet Debit Credit Debit Credit P6,800 P9,500 P7,400 P4,700 a P4,700 net income b. P2,700 net income c. P2,700 net loss d. P6,800 net loss 4 Given the following totals of the financial statements columns of the worksheet, determine the net income or loss for the period: Income Statement Balance Sheet Debit Credit Debit Credit P8,500 P6,750 P4,300 P6,050 a. P8,500 net loss b. P1,750 net income C. P4,300 net income d. P1,750 net loss 325
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Multiple choice
Transcribed Image Text:eupenses. The owner's capital
or the current year. The owner
he unadjusted trial balance and the adjusted trial balance columns
en the following totals for the financial statement columns on the
rksheet, determine the net income or loss for the period:
Income Statement
Balance Sheet
Debit
Credit
Debit
Credit
P6,800
P9,500
P7,400
P4,700
a P4,700 net income
b. P2,700 net income
c. P2,700 net loss
d. P6,800 net loss
4 Given the following totals of the financial statements columns of the
worksheet, determine the net income or loss for the period:
Income Statement
Balance Sheet
Debit
Credit
Debit
Credit
P8,500
P6,750
P4,300
P6,050
sreferred to
P8,500 net loss
b. P1,750 net income
C. P4,300 net income
d. P1,750 net loss
a.
325
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