The ending owner's equity of the business amounts to P100,000. The beginning assets and liabilities are P100,000 and P60,000 respectively. The owner contributed additional investments of P10,000 and incurred P15,000 expenses during the period. 6. How much is the net income? 7. How much is the ending total assets assuming liabilities remain the same? 8. How much is the total revenues?

Q: net income

A: If no additions or withdrawals are made, the increase in the capital balance is due to net income.

Q: Assuming that the business total liabilities are 1/3 of the total equity of the business, based on…

A: Equity = 600,000 Liabilities = 1/3 of Equity                 = 600,000/3                 = 200,000…

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A: Note: “Since you have asked multiple questions, we will solve the first question for you. If you…

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A: Formula: Net Income = Revenues - expenses

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A: Difference between Liabilities and Equity - Difference - Liabilities are the obligation of the…

Q: If beginning capital was $25,000, ending capital is $37,000, and the owner's withdrawals were…

A: Ending capital = Beginning capital + Net income (loss) - Owner's withdrawals

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A: Capital is the money invested in the business by the entrepreneur which gives him the right to take…

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A: Introduction: Owner's equity is owner's claim over the net assets of the organization. Owner's…

Q: If beginning capital was $100,000, ending capital is $85,000, and the owner's withdrawals were…

A: Formula: Net income = Beginning capital - Owners withdrawals - Ending capital

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A: In order to determine the Ending capital balance of the business organization, the net income is…

Q: SET A - At the beginning of the year, Gilas Company had the total assets of P2,000,000 and a total…

A: Total Assets=(Total Liabilities+Owner's Equity)

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A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

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A:

Q: At the start of the period, ABC Company has total assets of ₱500,000 and total liabilities of…

A: Accounting equations: Accounting equations are on the basis of the dual aspect concept of…

Q: If revenue was P45,000, expenses were 37,500, and the owner's equity withdrawals were 10,000, the…

A: The revenue of a firm indicates the income generated by selling goods or rendering services to the…

Q: The total assets of the business at the end of the year was RM120,000 and the liabilities were 50%…

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: At the start of the period, a business has total assets of ₱500,000 and total liabilities of…

A: Beginning Equity = Total assets - Total liabilities                              = ₱500,000 -…

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A: Assets = Liabilities + Capital + Income

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A: When a proprietor makes investment to start a business it is known as capital contribution.  Money…

Q: 9. At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of…

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A: The accounting equation states that, assets = liabilities + equity

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A: According to the accounting equation: Assets = Liabilities + Owner's Equity

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A: Unearned revenue:   Unearned revenue refers to the cash amount received by the company for the goods…

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A: Owners ending balance = Beginning balance of owners capital + Net income - drawings

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A: Equity at the end can be calculated by adding up net income into the beginning equity balance.

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A: As per the Accounting Equation  Assets = Liabilities + Owner's Equity

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A: At a particular point of time, after every transaction is recorded, Assets = Liabilities + Equity

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A: "Since you have asked multiple questions, we will solve only first question for you. If you want any…

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A: The question is based on the concept of Financial Accounting. Net profit is profit after tax but…

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Q: 1. Hannah Maganda has total assets of P25000  and equity of P32000. How much is her liabilities?…

A: 1. P 25000 = P 32000 + Liabilities  Liabilities = P 32000 - P 25000                   = P (-7000)…

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A: Introduction: The connection between a company's assets, liabilities, and capital is referred to as…

Q: Black Company has beginning total assets of P200 million and ending liabilities of P110 million.…

A: An owner does withdraw from the business for personal use.