The balance in the capital account of Han Ji Pyung Co. at the beginning of the year was P650,000. During the year, the company earned revenue of P4,300,000, incurred expenses of P3,600,000, the owner withdrew P500,000 in assets, and the balance in the cash account increased by P100,000. At year-end, the company's net income and the year-end balance in the capital account were, respectively: A. P200,000 and P950,000 B. P600,000 and P750,000 C. P700,000 and P950,000 D. P700,000 and P850,000

The balance in the capital account of Han Ji Pyung Co. at the beginning of the year was P650,000. During the year, the company earned revenue of P4,300,000, incurred expenses of P3,600,000, the owner withdrew P500,000 in assets, and the balance in the cash account increased by P100,000. At year-end, the company's net income and the year-end balance in the capital account were, respectively: A. P200,000 and P950,000 B. P600,000 and P750,000 C. P700,000 and P950,000 D. P700,000 and P850,000

Name: The balance in the capital account of Han Ji Pyung Co. at the beginni
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Description: The balance in the capital account of Han Ji Pyung Co. at the beginning of the year was P650,000. Duringthe year, the company earned revenue of P4,300,000, incurred expenses of P3,600,000, the ownerwithdrew P500,000 in assets, and the balance in the

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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