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What owner equity on december was

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Problem 1: On January 1, the assets were P500,000 and the liabilities were P200,000. During the year the assets increased by P100,000 and the liabilities decreased by P50,000. Owner's equity on December 31 was :

a. P300,000

b. P350,000

c. P250,000

d. P450,000

Reference no: EM132943794

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