1. At the beginning of the period, a business has a cash balance of ₱20,000. During the period, total cash collections and total cash payments amounted to ₱100,000 and ₱70,000, respectively. How much is the ending balance of cash? A. 10,000 B. 30,000 C. 50,000 D. 70,000
please choose the correct answer
1. At the beginning of the period, a business has a cash balance of ₱20,000. During the period, total cash collections and total cash payments amounted to ₱100,000 and ₱70,000, respectively. How much is the ending balance of cash?
A. 10,000
B. 30,000
C. 50,000
D. 70,000
2. Entity A has
A. 620,000
B.500,000
C. 480,000
D. 380,000
3. If deposit for lease contract was recorded as Rent Expense,
A. expense is understated.
B.asset is not affected.
C.profit is overstated.
D. owner’s equity is understated.
4. Inventory, beg. ₱50,000; Net purchases, ₱120,000; Cost of goods sold, ₱80,000. How much is the Inventory, end.?
A. 90,000
B. 120,000
C. 70,000
D. 80,000
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