following are the changes December 31, 20x1, except for retained earnings. account balances of Kenji Company during the year ended Increase (Decrease) P1,185,000 2,844,000 (1,500,000) 705,000 (765,000) 1,230,000 900,000 60,000 Cash Account receivable, net Inventory Investments Accounts payable Bonds payable Ordinary share capital Share premium There were no entries in the retained earnings account except for net income and a dividend declaration of P1,180,000, which was paid in the current year. REQUIRED: 7. Net increase (decrease) in net assets 8. Net income for the current year
following are the changes December 31, 20x1, except for retained earnings. account balances of Kenji Company during the year ended Increase (Decrease) P1,185,000 2,844,000 (1,500,000) 705,000 (765,000) 1,230,000 900,000 60,000 Cash Account receivable, net Inventory Investments Accounts payable Bonds payable Ordinary share capital Share premium There were no entries in the retained earnings account except for net income and a dividend declaration of P1,180,000, which was paid in the current year. REQUIRED: 7. Net increase (decrease) in net assets 8. Net income for the current year
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 6E: The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal...
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