Answered: Hargreeves Company reported revenues…

Hargreeves Company reported revenues for P273,500 and expenses for P263,800. The owner withdrew P30,000 for personal use. How much is the net income of Hargreeves Company for the year?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 30CE

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Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Please answer correctly. Thanks

Hargreeves Company reported revenues for P273,500 and expenses for P263,800.
The owner withdrew P30,000 for personal use. How much is the net income of
Hargreeves Company for the year?

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