TAARE ZAMEENPAR Company reported the following changes in the account balances for the current year, December 31, 2021: INCREASE(DECRASE) Cash 1,500,000 Accounts receivable, net 500,000 Inventory 2,000,000 Prepaid expenses (100,000) Land 5,000,000 Accounts payable (1,100,000) Bonds payable 4,000,000 Share capital 4,000,000 Share premium 1,000,000 Dividends of P1,500,000 was paid during the year and that no other transactions affected the retained earnings. What is the net income for the period.
TAARE ZAMEENPAR Company reported the following changes in the account balances for the current year, December 31, 2021: INCREASE(DECRASE) Cash 1,500,000 Accounts receivable, net 500,000 Inventory 2,000,000 Prepaid expenses (100,000) Land 5,000,000 Accounts payable (1,100,000) Bonds payable 4,000,000 Share capital 4,000,000 Share premium 1,000,000 Dividends of P1,500,000 was paid during the year and that no other transactions affected the retained earnings. What is the net income for the period.
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
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 3E: Visual Inspection Noble Companys accounting records provided the following changes in account...
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TAARE ZAMEENPAR Company reported the following changes in the account balances for the current year, December 31, 2021: |
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Dividends of P1,500,000 was paid during the year and that no other transactions affected the earnings |
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