Reference no: EM133149310
Questions -
Q1. Taehyung started operating a service proprietorship on April 1, 2021 with an initial cash investment of P100,000. The business provided P58,500 of services in April and received full payment in May. The business incurred expenses of P20,300 in April which were paid in June. During May, Taehyung drew P4,300 against his capital account. What was the income to be reported for the 2 months ended May 2021 under cash basis?
Q2. In the income statement for the current year, JK Company reported revenue P50,000,000, excluding intersegment sales P10,000,000, expenses P47,000,000 and net income P3,000,000. Expenses included payroll costs of P15,000,000. The combined identifiable assets of all operating segments at year-end totaled P40,000,000. What is the minimum amount of sales to be a major customer?
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What form of organization do you set up
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Give 3 instances proving that with savings
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What amount should be shown as operating profit
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What was the income to be reported for the two months
: Taehyung drew P4,300 against his capital account. What was the income to be reported for the 2 months ended May 2021 under cash basis
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Strategic management of an organization of choice
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How much is the total expense for the third quarter
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Liability Obligations
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