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How much is the Stockholders Equity as of December

    Assignment Instructions

    Assignment ID: FG133136304

    Question – La Bonz Corporation had the following assets, liabilities, revenues, and expenses as of December 31, 2019 and the accounts are listed below in alphabetical order.

    Accounts Receivable

    P28,000

    Office Equipment

    P59,000

    Accounts Payable

    37,000

    Office Supplies

    5,000

    Building

    45,000

    Service Revenue

    130,000

    Cash

    80,000

    Supplies Expense

    8,000

    Commission Expense

    20,500

    Utilities Expense

    8,500

    Common Stock

    22,000

    Wage Expense

    11,500

    Interest Payable

    1,500

    Land

    40,000

    Beginning retained earnings was P120,000 and dividends were P5,000 for the year.

    Required –

    1. How much is the Stockholders’ Equity as of December 31, 2019?

    2. How much is the net income(loss) of La Bonz?

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