A company recorded the following expenses at the end of the current year: Decrease in inventory P300,000 Transportation out 40,000 Depreciation 170,000 Purchases 800,000 Finance cost 20,000 Salaries 130,000 Freight in 30,000 Purchase discount 140,000 Sales 2,500,000 Loss on sale of equipment 10,000 Gain on sale of investment 30,000 14. What amount should be reported as cost of goods sold of the company? a. P690,000 b. P990,000 c. P390,000 d. P970,000 15. What amount should be reported as income by the company? a. P1,170,000 b. P1,190,000 c. P1,770,000 d. P1,470,000

A company recorded the following expenses at the end of the current year: Decrease in inventory P300,000 Transportation out 40,000 Depreciation 170,000 Purchases 800,000 Finance cost 20,000 Salaries 130,000 Freight in 30,000 Purchase discount 140,000 Sales 2,500,000 Loss on sale of equipment 10,000 Gain on sale of investment 30,000 14. What amount should be reported as cost of goods sold of the company? a. P690,000 b. P990,000 c. P390,000 d. P970,000 15. What amount should be reported as income by the company? a. P1,170,000 b. P1,190,000 c. P1,770,000 d. P1,470,000

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

Problem 19P

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