The owner of ABC Company invested cash to the business amounting P500,000 and office furniture and equipment which has a fair market value of P210,000. During the year, the owner made an additional investment of P150,000 to increase the working capital of the firm. On December 1, the owner issued a company check for P250,000 to settle his personal loan from Union Bank. Revenues in 2021 totaled P305,000 and expenses amounted to P420.200 How much was owner's capital as of December 31, 2021? The following account balances were taken from the books of ABC Company for the month of March Utilities Expense 45,100 Salaries Payable 10,900 Unearned Service Income 30,000 Prepaid Rent Expense 120,000 Salaries Expense 85,200 Office Supplies Expense 15.500 Accrued Interest Expense 3,750 Compute for the total expenses incurred by ABC Company for the month of March. ABC Company, a computer repair shop provided the following information at the end of its first month of operation: Computer repair services rendered 160,000 Interest income earned from customer's promissory note 2,500 Payment for the shop's space rental 11.000 Payment for the salaries of employees for the month 19,600 Payment of the shop's electricity bill for the month 12.450 Payment of the telephone bill in the residence of the owner of ABC Company 15.600 Determine the net income (loss) of ABC Company on its first month of operation. The following items appeared on the 2021 financial records of ABC Company: Service Income Unearned Commission Income Salaries Expense Accrued Rent Expense Interest expense Utilities expense Interest income Bad Debts Expense Supplies Expense Taxes and Licenses Expense P600,000 80,000 420,000 50,000 3,600 84,000 7,000 2,100 3,500 1,600 What amount should be reported as net income on the company's 2021 income statement? At the start of the period, ABC Company has total assets of $500,000 and total liabilities of P300,000. During the period, the business earned total income of P1,000,000 and incurred total expenses of P640,000. No additional investments or withdrawals were made by the owner, How much is the total equity at the end of the period