Question
DOTC had the following accounts balance as of 2021: Current Assets P 14,000,000 Investment and Fixed Assets P 126,000 Other Assets P 7,000,000 Liabilities P
DOTC had the following accounts balance as of 2021:
Current Assets P 14,000,000
Investment and Fixed Assets P 126,000
Other Assets P 7,000,000
Liabilities P 25,200,000
Contingent Liabilities P 7,000,000
Contingent Assets P 4,200,000
Determine the Accumulated Surplus/Deficit.
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Federal Tax Accounting 2022
Authors: Frank L. Brunetti
1st Edition
080805631X, 9780808056317
