1. What is the total amount of the company's current assets? (Indicate the FINAL ANSWER and the SOLUTION)2. What is the total amount of the company's non-current assets? (Indicate the FINAL ANSWER and the SOLUTION)3. What is the total amount of the company's current liabilities? (Indicate the FINAL ANSWER and the SOLUTION)4. What is the total amount of the company's noncurrent liabilities? (Indicate the FINAL ANSWER and the SOLUTION)5. What is the total amount of the company's assets and liabilities? (Indicate the FINAL ANSWER below: Format of Answer: ASSETS = xxx; LIABILITIES = xxx and also the SOLUTION)THANK YOU SO MUCH!:) Date:NAME:Professor:Score:Section:PROBLEM 1-1: MULTIPLE CHOICEInstruction: Choose the letter corresponding to the correct answerfor each of the questions provided below.Use the given information to answer the questions on thenext page.Anselmo Co.'s post-closing trial balance on December 31,20xx shows the following account balances:CashP50,00030,00070,00055,000Accounts receivableNotes receivable (nontrade) - P45,000 due within 1 yr.InventoryPrepaid supplies15,000LandBuildingAccumulated depreciation300,000700,000(360,000)Accounts payableNotes payable (nontrade) - P50,000 due within 1 yr.Rent payable (due within 1 yr.)Utilities payableInterest payableSalaries payable80,000300,00050,00035,00030,00060,000130,000Unearned income

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Answered: 1. What is the total amount of the…

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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1. What is the total amount of the company's current assets? (Indicate the FINAL ANSWER and the SOLUTION)

2. What is the total amount of the company's non-current assets? (Indicate the FINAL ANSWER and the SOLUTION)

3. What is the total amount of the company's current liabilities? (Indicate the FINAL ANSWER and the SOLUTION)

4. What is the total amount of the company's noncurrent liabilities? (Indicate the FINAL ANSWER and the SOLUTION)

5. What is the total amount of the company's assets and liabilities? (Indicate the FINAL ANSWER below: Format of Answer: ASSETS = xxx; LIABILITIES = xxx and also the SOLUTION)

THANK YOU SO MUCH!:)

Date:
NAME:
Professor:
Score:
Section:
PROBLEM 1-1: MULTIPLE CHOICE
Instruction: Choose the letter corresponding to the correct answer
for each of the questions provided below.
Use the given information to answer the questions on the
next page.
Anselmo Co.'s post-closing trial balance on December 31,
20xx shows the following account balances:
Cash
P50,000
30,000
70,000
55,000
Accounts receivable
Notes receivable (nontrade) - P45,000 due within 1 yr.
Inventory
Prepaid supplies
15,000
Land
Building
Accumulated depreciation
300,000
700,000
(360,000)
Accounts payable
Notes payable (nontrade) - P50,000 due within 1 yr.
Rent payable (due within 1 yr.)
Utilities payable
Interest payable
Salaries payable
80,000
300,000
50,000
35,000
30,000
60,000
130,000
Unearned income

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