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Chapter 5 - Elements of Financial Statements: Application Problems Case 1: Identification of Element
Chapter 5 - Elements of Financial Statements: Application Problems Case 1: Identification of Element
APPLICATION PROBLEMS
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Chapter 5 – Elements of Financial Statements
1. The owner of the business invested a building worth ₱500,000 to the business.
ASSET LIABILITY EQUITY INCOME EXPENSE
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2. Receipt of ₱100,000 cash from a client whom the business provided services.
ASSET LIABILITY EQUITY INCOME EXPENSE
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Chapter 5 – Elements of Financial Statements
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Chapter 5 – Elements of Financial Statements
10. Accrual of ₱8,000 unpaid interest due from debtor of the business.
ASSET LIABILITY EQUITY INCOME EXPENSE
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