Answer to Question #281831 in Marketing for Jane

Question

Beatrice Luigi Gomez established a fashion designing service business in Cebu City on December 2021 which she

named Top 5 Best Designs. Below are the following completed transactions during the first year of business.

Answer 1

Beatrice Luigi Gomez can identify her company's net assets by subtracting liabilities from the assets.

Assets that Beatrice own includes

1. P243000 transferred in her business account

2. P34000 for computer equipment

3. P13740 for office equipment

4. P45000 deposit for service vehicle

Total to p335474

Liabilities include

1. P70000 rent

2. P25000 insurance premiums

3. P48000 balance for service vehicle

Total to p143000

Her company net asset is p335474 - 14300 which is p192474