Accouting Review for Midterms

Universal Robina

• SERVICE

• MANUFACTURING

• MERCHANDISING

Southville International School and Colleges

• SERVICE

• MANUFACTURING

• MERCHANDISING

Puregold

• SERVICE

• MANUFACTURING

• MERCHANDISING

BDO

• SERVICE

• MANUFACTURING

• MERCHANDISING

Jollibee

• SERVICE

• MANUFACTURING

• MERCHANDISING

If total assets increased P10,000 during a period and total liabilities increased P4,000 during the same period, what happens to the owner’s equity?

• 14,000 increase

• 14,000 decrease

• 6,000 increase

If total assets decreased by P10,000 during a period and total liabilities increased P4,000 during the same period, what happens to the owner’s equity?

• 14,000 increase

• 14,000 decrease

• 6,000 increase

Angel Eve bought a building for Php 200,000. She sold it afterwards for Php 350,000.

 

What is the effect of the sale on the total amount of the seller’s ASSETS?

• 550,000 increase

• 150,000 decrease

• 150,000 increase

Angel Eve bought a building for Php 200,000. She sold it afterwards for Php 350,000.

 

What is the effect of the sale on the total amount of the seller’s LIABILITIES?

• 550,000 increase

• 150,000 decrease

• 150,000 increase

• None of the Above

Angel Eve bought a building for Php 200,000. She sold it afterwards for Php 350,000.

 

What is the effect of the sale on the total amount of the seller’s OWNER'S EQUITY?

• 550,000 increase

• 150,000 decrease

• 150,000 increase