At the beginning of the year, the inventory of a convenience store was 189,950. The purchases made during the year amounted to 90,460.00. the ending inventory wqs 86,780. its salary expenses amounted to 325,450.00, and its rental expense was 420,000. The store owner also collected 135,200 for utilities. the store also received sales returns worth P50,000. The total sales of the convenience store was p1,875,500. what is the net profit/loss of the convenience store?

At the beginning of the year, the inventory of a convenience store was 189,950. The purchases made during the year amounted to 90,460.00. the ending inventory wqs 86,780. its salary expenses amounted to 325,450.00, and its rental expense was 420,000. The store owner also collected 135,200 for utilities. the store also received sales returns worth P50,000. The total sales of the convenience store was p1,875,500. what is the net profit/loss of the convenience store?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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