38. The following Changes in Owner'sEqutiy of an Entity took place for theperiod from January 1 to December31, 2020: *Owner's Equity, EndingOwner's Equity, BeginningIncrease in Owner's Equityp900,000800,000P100,000The following were the operating results:RevenueP 90,000Cost and Expenses 60,000If withdrawal of P20,000 was in form of Cash, how much represents additional investment?O A. P60,000О В. Р70,000О С. Р80,000О D. Р90,000

Net Income = revenue - cost and expenses = P90000 - 60000 = P30,000

38. The following Changes in Owner's Equtiy of an Entity took place for the period from January 1 to December 31, 2020: * Owner's Equity, Ending P900,000 Owner's Equity, Beginning Increase in Owner's Equity 800,000 P100,000 The following were the operating results: Revenue P 90,000 Cost and Expenses 60,000 If withdrawal of P20,000 was in form of Cash, how much represents additional investment? O A. P60,000 B. P70,000 O C. P80,000 O D. P90,000

38. The following Changes in Owner's Equtiy of an Entity took place for the period from January 1 to December 31, 2020: * Owner's Equity, Ending P900,000 Owner's Equity, Beginning Increase in Owner's Equity 800,000 P100,000 The following were the operating results: Revenue P 90,000 Cost and Expenses 60,000 If withdrawal of P20,000 was in form of Cash, how much represents additional investment? O A. P60,000 B. P70,000 O C. P80,000 O D. P90,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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