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Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable P 25,000 50,000 Accrued Insurance Expense Office Equipment P 10,000 80,000 Cash Unearned Rental Income 5,000 Accum. Depreciation - Office Eapmat, 8,000 Unused Supplies 1,500 Furniture 40,000 2,000 Accounts Receivable Allow for Bad Debts 12,000 Accum Depreciation - Furniture 2,000 If the owner's drawing is P 100,000 and the beginning owner's equity is P 185.000, How much is the net profit?

Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable P 25,000 50,000 Accrued Insurance Expense Office Equipment P 10,000 80,000 Cash Unearned Rental Income 5,000 Accum. Depreciation - Office Eapmat, 8,000 Unused Supplies 1,500 Furniture 40,000 2,000 Accounts Receivable Allow for Bad Debts 12,000 Accum Depreciation - Furniture 2,000 If the owner's drawing is P 100,000 and the beginning owner's equity is P 185.000, How much is the net profit?

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter14: Financial Statement Analysis
Section: Chapter Questions
Problem 14.9BE
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Question 37 Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable Cash Unearned Rental Income Unused Supplies Accounts Receivable Allow for Bad Debts If the owner's drawing is P 100,000 and the beginning owner's equity is P 185,000, How much is the net profit? O a Ob Oc P 25,000 Accrued Insurance Expense Office Equipment P 10,000 80,000 50,000 5,000 Accum. Depreciation - Office Eqpmat. 8,000 1,500 Furniture 40,000 2,000 12,000 Accum Depreciation - Furniture 2,000 Od P 101.000 P 109,000 P 102.000 P 121,000
Transcribed Image Text:Question 37 Based on the following post-closing trial balance of Rigodon Corporation on June 30, the end of its fiscal year. Notes Payable Cash Unearned Rental Income Unused Supplies Accounts Receivable Allow for Bad Debts If the owner's drawing is P 100,000 and the beginning owner's equity is P 185,000, How much is the net profit? O a Ob Oc P 25,000 Accrued Insurance Expense Office Equipment P 10,000 80,000 50,000 5,000 Accum. Depreciation - Office Eqpmat. 8,000 1,500 Furniture 40,000 2,000 12,000 Accum Depreciation - Furniture 2,000 Od P 101.000 P 109,000 P 102.000 P 121,000
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