You are given the following selected data after one year of operation of Total Face Up owned by Dr. Dina. Revenue from facial treatment services collected in cash P 250,000 Revenue from facial treatment services rendered on account 125,000 Cash collected from account customers 50,000 Dr. Dina, Capital's cash investment 520,000 Operating expenses incurred on account: Utilities 125,000 Operating expenses incurred for cash: Salary of Nurse 50,000 Rent of Clinic 25,000 Medical supplies bought (of which P 5,000 are still on hand) 10,000 Cash withdrawn by Dr. Dina 5,000

You are given the following selected data after one year of operation of Total Face Up owned by Dr. Dina. Revenue from facial treatment services collected in cash P 250,000 Revenue from facial treatment services rendered on account 125,000 Cash collected from account customers 50,000 Dr. Dina, Capital's cash investment 520,000 Operating expenses incurred on account: Utilities 125,000 Operating expenses incurred for cash: Salary of Nurse 50,000 Rent of Clinic 25,000 Medical supplies bought (of which P 5,000 are still on hand) 10,000 Cash withdrawn by Dr. Dina 5,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

1. What net amount should be reported as OCI for the current year? 2. What amount should be reported as comprehensive income for the current year?
What impact does an increase in expenses have on net income?
whats the income statement for this?
What is the difference of net income and gross income?
How is net income calculated? Define revenues and expenses?
How to calcuate the taxes on the income statement under operating expense. Please provide an example. Using numbers from an income statement.
when putting together an income statement do the revenues and expenses have to put in order from highter amount to lowest?
What does it mean when you have a debit balance of accrued interest income? Does a Debit balance accrued interest inome a deduction in net income?
Determine the net income?
what is the return in assets for each year?
What is annual investment income? And what effect it has on income statement and balance sheet?
What is this classified as on the income statement? Change in accounts payable Revenue Expense Depreciation Other Farm income