2023 2022 Property Plant and Equipment Land Buildings Equipment and furnishing 6 00055 00025 000 6 00052 00023 000 86 000 81 000 Current assets: Cash Marketable securities Accounts Receivable Inventory Prepaid expenses 80045012 00020 000250 70030011 00017 000300 33 500 29 300 Total assets 120 000 110 850 Equity and Liabilities Equity Preferred stock (P100 value at 8%) Common stock (Par value=P2.00 each) Additional paid-up capital Retained earnings 6 00025 0004 00035 000 6 00024 0003 80029 000 70 000 62 800 Current Liabilities Accounts payable Accrued expenses Notes payable 7 5002 2003 000 7 0502 1003 200 12 700 12 350 LonLong term liabilities Bonds payable (Face value = P1000.00) g term liabilities 37 300 35 700 Total liabilities 50 000 48 050 Total equity and liabilities 120 000 110 0850 Extracts from the income statements Revenue 25 000 23 000 Cost of sales (13 000) (14 000) 12 000 9 000 Expenses Interest Other 10003000 8003200
2023 2022 Property Plant and Equipment Land Buildings Equipment and furnishing 6 00055 00025 000 6 00052 00023 000 86 000 81 000 Current assets: Cash Marketable securities Accounts Receivable Inventory Prepaid expenses 80045012 00020 000250 70030011 00017 000300 33 500 29 300 Total assets 120 000 110 850 Equity and Liabilities Equity Preferred stock (P100 value at 8%) Common stock (Par value=P2.00 each) Additional paid-up capital Retained earnings 6 00025 0004 00035 000 6 00024 0003 80029 000 70 000 62 800 Current Liabilities Accounts payable Accrued expenses Notes payable 7 5002 2003 000 7 0502 1003 200 12 700 12 350 LonLong term liabilities Bonds payable (Face value = P1000.00) g term liabilities 37 300 35 700 Total liabilities 50 000 48 050 Total equity and liabilities 120 000 110 0850 Extracts from the income statements Revenue 25 000 23 000 Cost of sales (13 000) (14 000) 12 000 9 000 Expenses Interest Other 10003000 8003200
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 10MCQ
Related questions
Question
| 2023 | 2022 | |
| Property Plant and Equipment Land Buildings Equipment and furnishing |
6 000 |
6 000 52 000 23 000 |
| 86 000 | 81 000 | |
| Current assets: Cash Marketable securities Accounts Receivable Inventory Prepaid expenses |
800 450 12 000 20 000 250 |
700 300 11 000 17 000 300 |
| 33 500 | 29 300 | |
| Total assets | 120 000 | 110 850 |
| Equity and Liabilities | ||
| Equity Common stock (Par value=P2.00 each) Additional paid-up capital |
6 000 25 000 4 000 35 000 |
6 000 24 000 3 800 29 000 |
| 70 000 | 62 800 | |
| Current Liabilities Accounts payable Accrued expenses Notes payable |
7 500 2 200 3 000 |
7 050 2 100 3 200 |
| 12 700 | 12 350 | |
| LonLong term liabilities Bonds payable (Face value = P1000.00) g term liabilities |
37 300 | 35 700 |
| Total liabilities | 50 000 | 48 050 |
| Total equity and liabilities | 120 000 | 110 0850 |
| Extracts from the income statements | ||
| Revenue | 25 000 | 23 000 |
| Cost of sales | (13 000) | (14 000) |
| 12 000 | 9 000 | |
| Expenses Interest Other |
1000 3000 |
800 3200 |
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