3. The following data were taken from the statement of realization and liquidation of AAA Corp.for the quarter ended June 1, 2011.Assets to be realized687,5001,062,500Supplementary creditsLiabilities to be liquidatedSupplementary chargesLiabilities liquidatedAssets acquired1,125,000975,000750,000750,000The ending capital balances of capital stock and retained earnings are P865,000 and P238,000,respectively. A net loss of P302,000 for the period. How much is the ending balances of cash?А. 1,500,000В. 1,680,000C. 1,305,000D. 1,076,000

First of all we find out opening capital. Opening capital = closing capital + dawings - additional…

3. The following data were taken from the statement of realization and liquidation of AAA Corp. for the quarter ended June 1, 2011. Assets to be realized 687,500 1,062,500 Supplementary credits Liabilities to be liquidated Supplementary charges Liabilities līquidated Assets acquired 1,125,000 975,000 750,000 750,000

3. The following data were taken from the statement of realization and liquidation of AAA Corp. for the quarter ended June 1, 2011. Assets to be realized 687,500 1,062,500 Supplementary credits Liabilities to be liquidated Supplementary charges Liabilities līquidated Assets acquired 1,125,000 975,000 750,000 750,000

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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