Question
Vela Company reported the following increases in account balances during the current year: Assets 8,900,000 Liabilities 2,700,000 Share Capital 6,000,000 Share Premium 600,000 There was
Vela Company reported the following increases in account balances during the current year:
Assets 8,900,000
Liabilities 2,700,000
Share Capital 6,000,000
Share Premium 600,000
There was no changes in retained earning other than for dividend payment of P1,300,000
What was the net income for the current year?
a. 1,700,000
b. 1,300,000
c. 900,000
d. 400,000
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International Accounting
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
5th edition
1259747980, 9781259747984, 1260466531, 978-1260466539
