Question
Zeta Corp. established an agency in Baguio City. For the first month of operatios, the agency transactions were summarized as follows Receipts from sales 350,000
Zeta Corp. established an agency in Baguio City. For the first month of operatios, the agency transactions were
summarized as follows
Receipts from sales 350,000
Disbursements for:
Purchases 400,000
Rent 20,000
Advertising supplies 10,000
Salaries and commissions 70,000
Other expenses 5,000
At the end of that month, the agency had P100,000 of receivables and P50,000 of payables. Also, there were P90,000 of unsold
merchandise and P6,000 of unused advertising supplies on hand. What is the results of operations of the Baguio City agency?
A. No profit, no loss
B. P25,000 profit
C. 9,000 loss
D. 155,000 loss
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