11. BTS Company reported the following increase(decrease) in the account balances for the current year: Cash P 1,500,000 3,500,000 3,900,000 (1,000,000) During the year, the entity sold for cash 100,000 shares with P20 par for P30 per share. Dividend of P4,500,000 was paid in cash. The entity borrowed P4,000,000 from the bank and paid off note of P1,000,000 and interest of P600,000. The entity had no other loan payable. Interest of P400,000 was payable on December 31. Interest payable on January 1 was P100,000. Equipment of P2,000,000 was donated by shareholder during the year. What was the net Accounts receivable Inventory Investments Equipment Accounts payable Bonds payable P3,000,000 (800,000) 2,000,000 income for the year?

11. BTS Company reported the following increase(decrease) in the account balances for the current year: Cash P 1,500,000 3,500,000 3,900,000 (1,000,000) During the year, the entity sold for cash 100,000 shares with P20 par for P30 per share. Dividend of P4,500,000 was paid in cash. The entity borrowed P4,000,000 from the bank and paid off note of P1,000,000 and interest of P600,000. The entity had no other loan payable. Interest of P400,000 was payable on December 31. Interest payable on January 1 was P100,000. Equipment of P2,000,000 was donated by shareholder during the year. What was the net Accounts receivable Inventory Investments Equipment Accounts payable Bonds payable P3,000,000 (800,000) 2,000,000 income for the year?

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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