ABM2 Q1.docx - Republic of the Philippines JOSE RIZAL MEMORIAL STATE UNIVERSITY The Premier University in Zamboanga del Norte Main Campus Dapitan city

ABM2 Q1.docx - Republic of the Philippines JOSE RIZAL...

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Republic of the Philippines JOSE RIZAL MEMORIAL STATE UNIVERSITY The Premier University in Zamboanga del Norte Main Campus, Dapitan city SENIOR HIGH SCHOOL- ABM STRAND FUNDAMENTALS OF ABM 2 NAME: DATE: PROGRAM & YEAR: GENDER: M( );F( );L( );G( );B( );T( ) GENERAL INSTRUCTION: Apply everything that you have learned from the previous discussion. Understand carefully each question and answer it with strict diligence. Use only ball pen, of any color, in answering. Make your answer clean and sure. Any mark of alteration/s will invalidate your answers. PROBLEM 1 At the beginning of the year. ABM12 Enterprise had total Assets of P700,000 and total Liabilities of P500,000. Answer the following questions independently. 1. If total assets increased by P150,000 during the year and total liabilities decreased by P80,000, what is the amount of owner’s equity at the end of the year? 2. During the year, total liabilities increased by P100,000 and OE decreased by P70,000, what is the amount of asset at the end of the year?
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  • Spring '18
  • Balance Sheet, Generally Accepted Accounting Principles, Jose Rizal Memorial State University, SENIOR HIGH SCHOOL- ABM STRAND

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