REQUIREMENT: Determine the net income of Mr. Me assuming that he is a Purely Self Employed and/or Professional. a. 1,639,960 b. 1,309,960 c. 1,639,900

Principles of Accounting Volume 1
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ISBN:9781947172685
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Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 22MC: A simple income statement ________. A. combines all revenues into one category B. does not combine...
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PROBLEM Mr. Me: Using the data provided ,

Gross Sales P1,972,103 

Cost of Sales P274,100 

Operating Expenses P58,043...

REQUIREMENT: Determine the net income of Mr. Me assuming that he is a Purely Self Employed and/or Professional.

a. 1,639,960

b. 1,309,960

c. 1,639,900
 
 
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