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As of year-end, Moes Kitchen Cleaning Service reported total liabilities amounting to 660,000 and capital balance amounting to 500,000. Throughout the year, total assets were

As of year-end, Moe’s Kitchen Cleaning Service reported total liabilities amounting to ₱660,000 and capital balance amounting to ₱500,000. Throughout the year, total assets were claimed to have increased by ₱125,000 and total liabilities by ₱190,000. Moe also made withdrawals for personal use amounting to ₱60,000.

Compute:

  1. 1.total assets at the beginning of the year
  2. 2.total liabilities at the beginning of the year
  3. 3.capital balance at the beginning of the year
  4. 4.net income during the year

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