Assets to be realized P 330,000 Assets acquired 360,000 Assets realized 420,000 Assets not realized 150,000 Liabilities to be liquidated 540,000 Liabilities assumed 180,000 Liabilities liquidated 360,000 Liabilities not liquidated 450,000 Supplementary credits 510,000 Supplementary charges 468,000 The ending balances of capital stock and retained earnings are P300,000 and P120,000,respectively. 1. How much is the ending balance of cash
Assets to be realized P 330,000 Assets acquired 360,000 Assets realized 420,000 Assets not realized 150,000 Liabilities to be liquidated 540,000 Liabilities assumed 180,000 Liabilities liquidated 360,000 Liabilities not liquidated 450,000 Supplementary credits 510,000 Supplementary charges 468,000 The ending balances of capital stock and retained earnings are P300,000 and P120,000,respectively. 1. How much is the ending balance of cash
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following data were taken from the statement of realization and liquidation of
XYZ Corporation for the quarter ended September 30, 2008:
Assets to be realized P 330,000
Assets acquired 360,000
Assets realized
420,000
Assets not realized 150,000
Liabilities to be liquidated 540,000
Liabilities assumed 180,000
Liabilities liquidated 360,000
Liabilities not liquidated 450,000
Supplementary credits
510,000
Supplementary charges 468,000
The ending balances of capital stock and
P120,000,respectively.
1. How much is the ending balance of cash?
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 with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education