The net book value of the plant asset at the start of the year is P480,000. The depreciation rate is 2% per year. The net book value at the end of the year is P470,000. If there are no additions and disposals of assets, the acquisition cost of asset was ?

A Merchandise was sold on April 15, 2025 for P200,000 with Terms 15, 10, 5, 2/30, n/45. How much should be recorded as sales in the books?

The following information is available for Claire Bennet Company for the year 2025: Disbursement for purchases in the amount of P580,000; Increase in trade accounts payable amounting to P50,000; and Decrease in merchandise inventory amounting to P20,000. What is the cost of goods sold for the year?

The prepaid rent for P12,000 is good for three months starting November 30, 2020. The balance sheet date is December 31, 2020. The prepayment was recorded under asset method. The correct rent expense for the given period would be ?

The business is a servicing firm. For the period it collected P50,000 cash and still have receivable amounting to P25,000 for the total services rendered. How much is the business revenue for the period?

If the Merchandise Inventory beginning is P50,000; Purchases is P241,500; freight-out is P4,000; Purchase returns and allowances is P8,500; Cost of Sales is P252,000. How much is Merchandise Inventory End?Untitled Question

If the ending inventory is P10,000, which is of the beginning inventory and is 1/5 of the total purchases, what is the cost of sales?

The term of a P300,000 purchase is 2/30; n/60; FOB, shipping point prepaid, P300. If the account is paid on the 20th day from the invoice date, the total amount paid was ?

The total assets of Mohinder Co. is P350,000 of which P50,000 is accounts receivable. Subsequently, P22,500 of accounts receivable was collected. If total liabilities before and after collection were P100,000 what is the new balance of its owners equity after the collection?

The net purchase is P1,176, net of 2% cash discount. A portion of the inventories were sold at a mark-up of 10%. Unsold portion of purchase is P176. The total purchase was?