Aun Vterenpleng Camp lahanen. erptengCalapum Cty Cp Menp Cel CyPRACTICAL EXERCISE 2Instruction: Solve the folowing problems.1. Mrs. Reyes has P100,000 cash invested in the business. She bought shop assets on account from AceFurniture for P50,000.Questions:a. How much are the assets of the business?b. What is the amount of liabilties?c. How much is the owner's equity?d. Give the accounting equation applicable to this2. Kristan Repair Shop is owned by Cristina Tan. The business showed the folowing items:CashFurniture and EquipmentDelivery VanAccounts Payable30,00010,000100,00040,000Questions: Determine the followinga. Total assetsb. Total liabilitiesc. Owner's Equityd. Give the accounting equation applicable to these.3. Miss Adelaida Garcia invested assets amounting to P160,000. She never bought anything on account.Questions: Determine the followinga.b. LiabiltiesOwner's Equityd. Accounting equation applicable to this.AssetsMam A VterieBenguteng Campn. Lahanem. engeteryCalepem Cty Cepan Menpre Cal Ciy

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Description: Aun Vterenpleng Camp lahanen. erptengCalapum Cty Cp Menp Cel CyPRACTICAL EXERCISE 2Instruction: Solve the folowing problems.1. Mrs. Reyes has P100,000 cash invested in the business. She bought shop assets on account from AceFurniture for P50,000.Que

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1. Mrs. Reyes has P100,000 cash invested in the business. She bought shop assets on account from Ace Furniture for P50,000. Questions: a. How much are the assets of the business? b. What is the amount of labilties? c. How much is the owner's equity?

1. Mrs. Reyes has P100,000 cash invested in the business. She bought shop assets on account from Ace Furniture for P50,000. Questions: a. How much are the assets of the business? b. What is the amount of labilties? c. How much is the owner's equity?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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