ASSIMILATION ABM Company POST-CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Cash in Bank Petty Cash Fund Account Receivable Allowance for Bad debts Notes Receivable Merchandise Inventory Prepaid Expenses Furniture Acc. Dep.-Fumiture Transportation Equipment Acc. Dep.- Transpo Equipment Accounts Payable Notes Payable-Non Current SSS, Philhealth, HDMF Payable Withholding Taxes Payable Accrued Expenses Pinky Ramos, Capital TOTAL Debit 123,153 10,000 659,340 . 132.200 774,307 3.200 900,000 1,400,000 4,002,200 Credit Liabilities 15,000 45,000 140,000 960,300 234,000 4,000 2.600 1,300 2,600,000 Requirement 1: Compute the accounting equation for the above post-closing trial balance of Pinklane Company as of Dec. 31, 2016. Assets 4,002,200 Equity

ASSIMILATION ABM Company POST-CLOSING TRIAL BALANCE Dec. 31, 2016 Accounts Cash in Bank Petty Cash Fund Account Receivable Allowance for Bad debts Notes Receivable Merchandise Inventory Prepaid Expenses Furniture Acc. Dep.-Fumiture Transportation Equipment Acc. Dep.- Transpo Equipment Accounts Payable Notes Payable-Non Current SSS, Philhealth, HDMF Payable Withholding Taxes Payable Accrued Expenses Pinky Ramos, Capital TOTAL Debit 123,153 10,000 659,340 . 132.200 774,307 3.200 900,000 1,400,000 4,002,200 Credit Liabilities 15,000 45,000 140,000 960,300 234,000 4,000 2.600 1,300 2,600,000 Requirement 1: Compute the accounting equation for the above post-closing trial balance of Pinklane Company as of Dec. 31, 2016. Assets 4,002,200 Equity

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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