On January 1. Choco Co. received and paid a P10,000 bill for advertising done in December of last year. In addition to this bill, the company paid P50,000 during January for expenses incurred last month. On February 2. Choco received a P8,000 bill for utilities used for January. This bill is due on February 14. On February 1, Fruitty Co. paid a P46,000 payroll to employees for work done in January. How much total expenses for the month of January should Choco Co. report?
On January 1. Choco Co. received and paid a P10,000 bill for advertising done in December of last year. In addition to this bill, the company paid P50,000 during January for expenses incurred last month. On February 2. Choco received a P8,000 bill for utilities used for January. This bill is due on February 14. On February 1, Fruitty Co. paid a P46,000 payroll to employees for work done in January. How much total expenses for the month of January should Choco Co. report?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On January 1. Choco Co. received and paid a P10,000 bill for advertising done in December of last year. In addition to this bill, the company paid P50,000 during January for expenses incurred last month. On February 2. Choco received a P8,000 bill for utilities used for January. This bill is due on February 14. On February 1, Fruitty Co. paid a P46,000 payroll to employees for work done in January. How much total expenses for the month of January should Choco Co. report?
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