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On Jan. 31, Ronald Co.’s cash balance is P50,000. On Jan. 13, Ronald Company have purchases on cash worth P35,000. On Jan. 25, they have sales on cash worth P60,000. On Jan. 26, the company paid P15,000 worth of salaries and P5,000 worth of advertising. Compute you cash beginning balance.

On Jan. 31, Ronald Co.’s cash balance is P50,000. On Jan. 13, Ronald Company have purchases on cash worth P35,000. On Jan. 25, they have sales on cash worth P60,000. On Jan. 26, the company paid P15,000 worth of salaries and P5,000 worth of advertising. Compute you cash beginning balance.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 3: (25-26) On Jan. 31, Ronald Co.’s cash balance is P50,000. On Jan. 13, Ronald Company have purchases on cash worth P35,000. On Jan. 25, they have sales on cash worth P60,000. On Jan. 26, the company paid P15,000 worth of salaries and P5,000 worth of advertising. Compute you cash beginning balance. (Sample Answer: P20,000)

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