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in the blanks Total revenues earned by the company during the year is P900,000 while the expenses incurred were: Salaries Expense, P75,000; Utilities Expense, P90,000; ad Rent Expense, P120,000. During the year, the owner made an additional investment of P100,000 but made a cash withdrawal of P220,000. The NET INCREASE in the owner's equity account during the year is

in the blanks Total revenues earned by the company during the year is P900,000 while the expenses incurred were: Salaries Expense, P75,000; Utilities Expense, P90,000; ad Rent Expense, P120,000. During the year, the owner made an additional investment of P100,000 but made a cash withdrawal of P220,000. The NET INCREASE in the owner's equity account during the year is

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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Fill in the blanks: Total revenues earned by the company during the year is P900,000 while the expenses incurred were: Salaries Expense, P75,000; Utilities Expense, P90,000; ad Rent Expense, P120,000. During the year, the owner made an additional investment of P100,000 but made a cash withdrawal of P220,000. The NET INCREASE in the owner's equity account during the year is
Transcribed Image Text:Fill in the blanks: Total revenues earned by the company during the year is P900,000 while the expenses incurred were: Salaries Expense, P75,000; Utilities Expense, P90,000; ad Rent Expense, P120,000. During the year, the owner made an additional investment of P100,000 but made a cash withdrawal of P220,000. The NET INCREASE in the owner's equity account during the year is
Fill in the blanks: The beginning capital balance is P301,000. At the end of the year, results of operations showed a net income of P96,000. During the year the owner withdrew P18,900 for personal use. The owner made an additional investment of P50,000. The ending capital balance is
Transcribed Image Text:Fill in the blanks: The beginning capital balance is P301,000. At the end of the year, results of operations showed a net income of P96,000. During the year the owner withdrew P18,900 for personal use. The owner made an additional investment of P50,000. The ending capital balance is
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