Answered: C collected a note of P5,000 plus…

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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15. On March 1, 20XX, ABM company sold 300 one-year subscriptions for ₱15 each. The total amount received was credited to subscriptions revenue. How much should be recorded as liability? A. ₱750 B. ₱4,500 C. ₱3,750 D. ₱0
W borrowed P14,600 for 2yrs. At the end of 2yrs he returned P16,700 for principal plus interest. Find the rate of interest
Item Nos. 19 to 21 are based on the following information: Partners Bruce, Charlie, and Demi share profits and losses in the ratio of 5:3:2, respectively. At the end of a very unprofitable year, they decided to liquidate the firm. The partners' capital account balances at this time were as follows: 000.000 9 Bruce- -- P 22,000 Charlie --- 24,900 Demi- 15,000 11 SC s blo2 97 The liabilities accumulated to P 30,000, including a loan of P 10,000 from Bruce. The cash balance was P 6,000. All the partners are personally solvent. The partnership plans to sell the assets on installment basis. ich did
10. Al the end of the year, Cosby Universit's held assets of $15.000,000 and 59,000,000 of tiabilites (including deferred revenues of $300,000). What Is Cramer's net assets balance? $5,700,000 B. $6,000,000 C. $6,300,000 D. $15,000,000
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My Fried Towel Company collected a note of ₱200,000 plus accrued interest of ₱20,000. The total assets of the company has increased by: ₱0 ₱220,000 ₱20,000 ₱200,000 My Fried Towel Company collected a note of ₱200,000 plus interest of ₱20,000. The total assets of the company has increased by: ₱220,000 ₱200,000 ₱20,000 ₱180,000
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Sun co bought a property for $700 000 including $300 000 relating t land. Building are depreciated at 5% per annum.After 10 year the building were revalued to $500 000. What is the amount to be recognised in the other income in respect of the revaluation?
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C collected a note of P5,000 plus interest of P200. The asset of C is increased by a. P5,200 b. P5,000 c. P 200 d. None.