16. If the amount of net income for the current period exceeds the amount of the owner's withdrawals, there will be a(n): а. decrease in the cash account b. increase in the owner's capital account decrease in the owner's capital account d. increase in the cash account с. 17. Net income for Kathryn Company is P25,000 for the current year. The owner withdrew P3,000 per month for personal living expenses. The owner's capital account will show a net:
16. If the amount of net income for the current period exceeds the amount of the owner's withdrawals, there will be a(n): а. decrease in the cash account b. increase in the owner's capital account decrease in the owner's capital account d. increase in the cash account с. 17. Net income for Kathryn Company is P25,000 for the current year. The owner withdrew P3,000 per month for personal living expenses. The owner's capital account will show a net:
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 8MCQ: Which item is added to net income when computing cash flows from operating activities? a. Gain on...
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