Question 45 On January 1, the assets were P500,000 and the liabilities were P200,000. During the year the assets increased by P100,000 and the liabilities decreased by P50,000. Owner's equity on December 31 was: P300,000 O P350.000 P250,000 P450,000

Question 45 On January 1, the assets were P500,000 and the liabilities were P200,000. During the year the assets increased by P100,000 and the liabilities decreased by P50,000. Owner's equity on December 31 was: P300,000 O P350.000 P250,000 P450,000

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 14.7BE

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