Global Inc. provided the following changes on December 31, 2020. Current assets P 3,000,000 Increase Noncurrent assets 2,500,000 Decrease Current liabilities 1,600,000 Decrease Noncurrent liabilities 1,000,000 Increase Share Capital 1,000,000 Increase Share premium capital 800,000 Increase There were no changes in retained earnings for 2020 other than P2,000,000 dividend payment and year-end results of operations. 1. How much is the net income for 2020

Global Inc. provided the following changes on December 31, 2020. Current assets P 3,000,000 Increase Noncurrent assets 2,500,000 Decrease Current liabilities 1,600,000 Decrease Noncurrent liabilities 1,000,000 Increase Share Capital 1,000,000 Increase Share premium capital 800,000 Increase There were no changes in retained earnings for 2020 other than P2,000,000 dividend payment and year-end results of operations. 1. How much is the net income for 2020

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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