Choose the letter of answer At the start of the period, a business has total assets of ₱500,000 and total liabilities of ₱300,000. During the period, the business earned total income of ₱1,000,000 and total expenses of ₱640,000. No additional investments or withdrawals were made by the owner. Total assets at the end of the period were ₱830,000. How much is the total liabilities at the end of the period? A. 280,000 B. 270,000 .C. 260,000 D. 240,000 At the beginning of the period, a business has accounts payable of ₱200,000. During the period, the total debits and credits to the accounts payable account were ₱100,000 and ₱70,000, respectively. How much is the ending balance of accounts payable? a. 230,000 b. 170,000 c. 370,000 d. 30,000 Cost of goods sold is debited each time a sale is made under which of the following inventory systems?
Choose the letter of answer
At the start of the period, a business has total assets of ₱500,000 and total liabilities of ₱300,000. During the period, the business earned total income of ₱1,000,000 and total expenses of ₱640,000. No additional investments or withdrawals were made by the owner. Total assets at the end of the period were ₱830,000. How much is the total liabilities at the end of the period?
A. 280,000
B. 270,000
.C. 260,000
D. 240,000
At the beginning of the period, a business has accounts payable of ₱200,000. During the period, the total debits and credits to the accounts payable account were ₱100,000 and ₱70,000, respectively. How much is the ending balance of accounts payable?
a. 230,000
b. 170,000
c. 370,000
d. 30,000
Cost of goods sold is debited each time a sale is made under which of the following inventory systems?
a. Perpetual system
b. COGS system
c. Periodic system
d. Perpetual and Periodic system
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