Compute for the Net Income of Café 7 DREAM for the year ended December 31, 2020, based on the accounts listed below. Sales P900,000 Ingredients Expense P200,000 Wages Expense P100,000 Utilities Expense P90,000 P45,000 Store Supplies Expense P20,000 Store Equipment Expense Note: For the amount do not include a peso sign or comma symbol. If there is a cent, simply include a decimal point then the cent amount, and round off the nearest hundredths.

Compute for the Net Income of Café 7 DREAM for the year ended December 31, 2020, based on the accounts listed below. Sales P900,000 Ingredients Expense P200,000 Wages Expense P100,000 Utilities Expense P90,000 P45,000 Store Supplies Expense P20,000 Store Equipment Expense Note: For the amount do not include a peso sign or comma symbol. If there is a cent, simply include a decimal point then the cent amount, and round off the nearest hundredths.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 12E: Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120...

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