LiabilitiesP120,000Equity, end80,000Revenues250,000Expenses290,0001. How much were total assets?2.How much was equity, beginning?3. How much was net income?

The fundamental accounting equation, also called the balance sheet equation, represents the…

Answered: Liabilities P120,000 Equity, end 80,000…

Liabilities P120,000 Equity, end 80,000 Revenues 250,000 290,000 Expenses 1. How much were total assets? 2. How much was equity, beginning? 3. How much was net income?

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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Question

Liabilities
P120,000
Equity, end
80,000
Revenues
250,000
Expenses
290,000
1. How much were total assets?
2.
How much was equity, beginning?
3. How much was net income?

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