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Morillo Travel Agency statement of financial position data at May 31, 2020 shows a total assets...

Morillo Travel Agency statement of financial position data at May 31, 2020 shows a total assets of P1,500,000 and a total liabilities of P1,090,000. As of June 30, 2020, the total assets increased to P1,950,000 and total liabilities increased to P1,310,000. The owner invested P390,000 in the business and withdrew P60,000 for personal use.

How much is the net loss for the month of June 2020?

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Answer #1

Net loss for the month of June 2020= P100000

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