3. Analyze the following tra transaction is given as an example. Income Statement Financial Position Owner Equity +250,00 Total Assets Total Liabilities +Revenues Expenses Dusiness Transactuions Dener investodP250,000 cash to put a business. Incurred legal expenies and paid P10,000. Paid cash tor employee wages, P15,000. 41ssoed a note for a cash loan, PS00,000, Received P80.000 cash for service provided. Bought car P500,000 50% down, note for 50%. Bought ofice equipment on credit. P180,000. 8 Provided services to chents on credit, P175,000. 9 Collected 50% on client sccounts. 10 Oxcor withdrew.cash, P5.00, 17 Net incomeNer Loss to Owner's Equity. +250,000 ) Get thhe totnts and prove tic zccounting equaion by Out of the total assets, how much is cash? ed Compute for ROE
3. Analyze the following tra transaction is given as an example. Income Statement Financial Position Owner Equity +250,00 Total Assets Total Liabilities +Revenues Expenses Dusiness Transactuions Dener investodP250,000 cash to put a business. Incurred legal expenies and paid P10,000. Paid cash tor employee wages, P15,000. 41ssoed a note for a cash loan, PS00,000, Received P80.000 cash for service provided. Bought car P500,000 50% down, note for 50%. Bought ofice equipment on credit. P180,000. 8 Provided services to chents on credit, P175,000. 9 Collected 50% on client sccounts. 10 Oxcor withdrew.cash, P5.00, 17 Net incomeNer Loss to Owner's Equity. +250,000 ) Get thhe totnts and prove tic zccounting equaion by Out of the total assets, how much is cash? ed Compute for ROE
Chapter6: Investing And Financing Activities
Section: Chapter Questions
Problem 2.4C
Related questions
Question
Transcribed Image Text:the conti
3 A thuty-floo condominium is being co
Construction started on January 2018, completion of th
Inc will take over only in 2022.
Statement of
Financial Position
Owner
Equity
1250,000
transaction is given as an example.
Income
Statement
+Revenues
Expenses
Total
Total
Assets
Liabilities
Dusiness Transactions
Denet investod P250,000 cash to put a business.
2 Incurred legal expenies and paid P10,000.
Paid cash tor employee wages, P15,000.
4Issoed a note for a cash loan, P500,000.
5 Received PS0.000 cash for sevice provided.
Bought car P500,000 50% down, note for 50%.
Bought office equlpment on credit, P180,000.
8 Provided services to chents on credit, P175,000.
Collected S0% on client sccounts.
10 Oscor withhdrew cash, P5.00.
11 Net income Ner Loss to Owner's Equity,
+250,000
) Get the totufs and prove the zccounting cquaion
by Out of the total assets; how much is cash?
Compute for ROE
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you