The adjusted trial balance of BLP Company shows the following balances: Debit Credit Cash Accounts Receivable...

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The adjusted trial balance of BLP Company shows the following balances: Debit Credit Cash Accounts Receivable Furniture and Fixtures Accumulated Depreciation Accounts Payable Pelejo, Capital Pelejo, Drawing Service Fee Salary Expense P500,000 100,000 150,000 Depreciation Expense Miscellaneous Expense 50,000 100,000 40,000 30,000 P970,000 How much is the profit and the total assets of the company? P 40,000 50,000 250,000 630,000 P970,000 The adjusted trial balance of BLP Company shows the following balances: Debit Credit Cash Accounts Receivable Furniture and Fixtures Accumulated Depreciation Accounts Payable Pelejo, Capital Pelejo, Drawing Service Fee Salary Expense P500,000 100,000 150,000 Depreciation Expense Miscellaneous Expense 50,000 100,000 40,000 30,000 P970,000 How much is the profit and the total assets of the company? P 40,000 50,000 250,000 630,000 P970,000

Answer rating: 100% (QA)

SOLUTION To calculate the profit of the company we need to use the formula Profit Total Revenue Total Expenses First we need to calculate the total re... View the full answer