Question
1. Learning is fun company generated revenues amounting to Php 100,000. Expenses for the year totaled Php 76,000. How much is the company's net income
1. Learning is fun company generated revenues amounting to Php 100,000. Expenses for the year totaled Php 76,000. How much is the company's net income for the year?
2. Happy Selling's beginning inventory amounted to 250,000. Net purchases amounted to 70,000. Freight-In totaled 15,000. Compute for Happy's Net Sales.
3. Gross profit of happy selling amounted to Php 175,000. Beginning inventory totaled Php 250,000. Ending inventory amounted to Php 50,000 while net cost of purchases totaled Php 85,000. Compute for Happy's Net Sales.
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
