Question
At the end of 2016, the total assets of XYZ Store amounted to P650 000, 40% of which is current. Total liabilities are P120 000.
At the end of 2016, the total assets of XYZ Store amounted to P650 000, 40% of which is current. Total liabilities are P120 000. During the year, the company registered total revenue of P850 000, cost of goods sold is 40% and selling and general expenses are 20%.Selling and general expenses amounted to:
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Accounting Information Systems
Authors: Vernon Richardson, Chengyee Chang, Rod Smith
2nd edition
1260153156, 1260153150, 978-1260153156
