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How much is the claim of the owner

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The following errors were made in preparing a trial balance: the P1,350 balance of Inventory was omitted; the P450 balance of Prepaid Insurance was listed as a credit; and the P300 balance of Salaries Expense was listed as Utilities Expense.

A business entity has total resources amounting to P550,000. Of that amount, P210,000 represents claim of outside creditors.

Problem 1: How much is the claim of the owner?

Reference no: EM133010365

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