Question
Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable P 25,000 Cash Accrued
Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable P 25,000 Cash Accrued Insurance Expense 50,000 Office Equipment Unearned Rental Income $,000 1,500 P 10,000 80,000 Furniture Accum Depreciation Office Eqpmt. 8,000 40,000 Accounts Receivable 12,000 Accum Depreciation-Furniture 2,000 Unused Supplies Allow for Bad Debts 2,000 If the owners drawing is P 100.000 and the beginning owner's equity is P185,000 How much is the net profit? Q. P101,000 06 P109.000 P102.000 P121,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started