If revenue was P45,000, expenses were 37,500, and the owner's equity withdrawals were 10,000, the amount of net income or net loss was choices: a.P45,000 net income b.P7,500 net income c.P37,500 net loss d.P2,500 net loss
If revenue was P45,000, expenses were 37,500, and the owner's equity withdrawals were 10,000, the amount of net income or net loss was choices: a.P45,000 net income b.P7,500 net income c.P37,500 net loss d.P2,500 net loss
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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If revenue was P45,000, expenses were 37,500, and the owner's equity withdrawals were 10,000, the amount of net income or net loss was
choices:
a.P45,000 net income
b.P7,500 net income
c.P37,500 net loss
d.P2,500 net loss
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