A business has Cash of P30,000, Notes Payable of P25,000, Accounts Payable of P43,000, Service Revenue of P70,000, and Rent Expense of P18,000. on the basis of these data, how much are its total liabilities?

A business has Cash of P30,000, Notes Payable of P25,000, Accounts Payable of P43,000, Service Revenue of P70,000, and Rent Expense of P18,000. on the basis of these data, how much are its total liabilities?

Name: 3. A business has Cash of P30,000, Notes Payable of P25,000, Accounts
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Description: 3. A business has Cash of P30,000, Notes Payable of P25,000, Accounts Payable of P43,000, Service Revenue of P70,000, and Rent Expense of P18,000. on the basis of these data, how much are its total liabilities?

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.12E: Net income and dividends The income statement of a corporation for the month of February indicates a...

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