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Question - Accounting Equation Analysis

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Question - Accounting Equation Analysis

K Company had a total ending liabilities of P90,750 and it represents the two-third(2/3) of total assets at year-end of 2020. During 2020, total assets increased to 125% and total liabilites decreased by 12%. How much is the expense incurred on 2020 if income earned is 25% greater than the expense incurred during the year? (Assuming that no other transactions affecting equity occured).

Reference no: EM132640901

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