At the beginning of the year, Vickey Barney Company's assets amount P 7,562,432 and the owner's equity amounting to P 2,567,889. During this year, assets increased by P 524,332 while liabilities decreased by P 35, 589. How much is the owner's equity at the end of the year?
At the beginning of the year, Vickey Barney Company's assets amount P 7,562,432 and the owner's equity amounting to P 2,567,889. During this year, assets increased by P 524,332 while liabilities decreased by P 35, 589. How much is the owner's equity at the end of the year?
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter11: Work Sheet And Adjusting Entries
Section: Chapter Questions
Problem 3PB
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At the beginning of the year, Vickey Barney
Company's assets amount P 7,562,432 and the
owner's equity amounting to P 2,567,889. During this
year, assets increased by P 524,332 while liabilities decreased by P 35, 589. How much is the owner's
equity at the end of the year?
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