FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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9. At the beginning of the year, an
Entity had total assets of P700,000
and total liabilities of P500,000. If the
total assets increased by 30% which
corresponds to decrease in total
liabilities by 20%, what is the amount
of owner's equity at the end of the
year?*
O A. P200,000
O B. P210,000
O C. P110,000
O D. P510,000
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Transcribed Image Text:9. At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% which corresponds to decrease in total liabilities by 20%, what is the amount of owner's equity at the end of the year?* O A. P200,000 O B. P210,000 O C. P110,000 O D. P510,000
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