On January 1, Emsi invest her P20,000.00 savings to put a business. After a month of operation, she received a total revenue of P19,000.00. She also paid her water and electricity bill of her business amounting to P2,000.00 and P3,000.00, respectively. Compute for the profit on January 31.

2. Joe Marie rendered service to her regular client. She received the amount of P50,000.00 for the service. At the end of the month she paid her monthly bills for water which is 25% of the total expenses she incurred. Her profit for the month was P15,000.00. Compute for the water bill paid. 

3. On June 1, Macoy invest his money in a business amounting to P100,000.00. He also borrowed an additional P200,000.00 from the bank to buy a machine amounting P150,000.00. He bought the remaining P50,000.00 from the borrowed fund for office supplies. On June 30, 75% of the supplies were used. He also received P75,000.00 from his clients for the service rendered. He paid his business' monthly bills amounting to P30,000.00. Compute Macoy's profit.

4. Based on previous problem. How much was Macoy's Assets on June 1?

5.Based on previous problem. How much was Macoy's Assets on June 30?

6.Based on previous problem. How much was Macoy's Liability on June 1?

7.Based on previous problem. How much was Macoy's Liability on June 30 if he paid 50% of the borrowed fund?

8. Based on previous problem. How much was Macoy's Equity on June 1? 

9. Based on previous problem. How much was Macoy's Equity on June 30?

10. Based on previous problem. How much was Macoy's Equity on June 30 if he paid 50% of his liability?

Answer rating: 100% (QA)

1 Profit on January 31 Revenue P1900000 Expenses P200000 P300000 P500000 Profit Revenue Expenses P19... View the full answer