Profit for the year

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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The following information relates to the Gates Corporation:
Net assets, end of year
P650,000
Net assets, beginning of year
300,000
Additional investment by shareholders
100,000
Dividends paid
150,000
Other comprehensive income for the year
80,000
Profit for the year is
O 480,000
O 350,000
O320.000
O400.000
O CG
II
Transcribed Image Text:YouTube Maps M Gmail The following information relates to the Gates Corporation: Net assets, end of year P650,000 Net assets, beginning of year 300,000 Additional investment by shareholders 100,000 Dividends paid 150,000 Other comprehensive income for the year 80,000 Profit for the year is O 480,000 O 350,000 O320.000 O400.000 O CG II
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