Ms. QWE began a business on April 1, 2021, contributing to the business the following assets: Cash, P 3,000,000, Office Supplies, P 275,000, Office Equipment, P 700,000, Furniture and Fixtures, P 2,100,000. A. What is the total value of the assets that Ms. QWE contributed to the business? B. Determine the value of Ms. QWE's ownership in the business.
Ms. QWE began a business on April 1, 2021, contributing to the business the following assets: Cash, P 3,000,000, Office Supplies, P 275,000, Office Equipment, P 700,000, Furniture and Fixtures, P 2,100,000. A. What is the total value of the assets that Ms. QWE contributed to the business? B. Determine the value of Ms. QWE's ownership in the business.
Chapter3: Business Income And Expenses
Section: Chapter Questions
Problem 22MCQ
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Ms. QWE began a business on April 1, 2021, contributing to the business the following assets: Cash, P 3,000,000, Office Supplies, P 275,000, Office Equipment, P 700,000, Furniture and Fixtures, P 2,100,000.
A. What is the total value of the assets that Ms. QWE contributed to the business?
B. Determine the value of Ms. QWE's ownership in the business.
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