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How much is the Stockholders Equity as of December

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Question - La Bonz Corporation had the following assets, liabilities, revenues, and expenses as of December 31, 2019 and the accounts are listed below in alphabetical order.

Accounts Receivable

P28,000

Office Equipment

P59,000

Accounts Payable

37,000

Office Supplies

5,000

Building

45,000

Service Revenue

130,000

Cash

80,000

Supplies Expense

8,000

Commission Expense

20,500

Utilities Expense

8,500

Common Stock

22,000

Wage Expense

11,500

Interest Payable

1,500

Land

40,000

Beginning retained earnings was P120,000 and dividends were P5,000 for the year.

Required -

1. How much is the Stockholders' Equity as of December 31, 2019?

2. How much is the net income(loss) of La Bonz?

Reference no: EM133136304

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