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Cash in Banco de Plata Cash in Metro Pacific Bank Petry Cash Fund Change Cash Fund Cash Equivalents 8,000,000 2,000,000 50,000 25,000 100,000

Cash in Banco de Plata Cash in Metro Pacific Bank Petry Cash Fund Change Cash Fund Cash Equivalents 8,000,000 2,000,000 50,000 25,000 100,000

FINANCIAL ACCOUNTING
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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Below are the accounts of Celistina Trading for the year ended December 31, 2015. Cash in Banco de Plata Cash in Metro Pacific Bank Petty Cash Fund Change Cash Fund Cash Equivalents Accounts Receivables Notes Receivables Raw Materials Work in Progress Finished Goods 8,000,000 2,000,000 50,000 25,000 100,000 2,000,000 200,000 600,000 400,000 1,000,000 1,000,000 2,000,000 (200,000) 1,000,000 Land Used as Plant Site Vehicles Accumulated Depreciation- Vehicles Fixtures
Transcribed Image Text:Below are the accounts of Celistina Trading for the year ended December 31, 2015. Cash in Banco de Plata Cash in Metro Pacific Bank Petty Cash Fund Change Cash Fund Cash Equivalents Accounts Receivables Notes Receivables Raw Materials Work in Progress Finished Goods 8,000,000 2,000,000 50,000 25,000 100,000 2,000,000 200,000 600,000 400,000 1,000,000 1,000,000 2,000,000 (200,000) 1,000,000 Land Used as Plant Site Vehicles Accumulated Depreciation- Vehicles Fixtures
Accumulated Depreciation - Fixtures Patents Accumulated Depreciation- Patents Trademarks Accumulated Depreciation - Trademarks Land held for Fair Value Appreciation Accounts Payable Notes Payable Interest Payable Income Tax Payable Long - term Debt Capital (100,000) 1,000,000 (100,000) 1,000,000 (100,000) 10,000,000 2,000,000 1,000,000 100,000 900,000 5,000,000 20,875,000 Instructions: Prepare a statement of financial position and label its parts. After which, answer the following questions. How much is the total current assets of the entity? How much is the total noncurrent assets of the entity? How much is the total current liabilities of the entity? How much is the total noncurrent liabilities of the entity? How much is the total assets of the entity? How much is the ratio of the current assets to the current liabilities?
Transcribed Image Text:Accumulated Depreciation - Fixtures Patents Accumulated Depreciation- Patents Trademarks Accumulated Depreciation - Trademarks Land held for Fair Value Appreciation Accounts Payable Notes Payable Interest Payable Income Tax Payable Long - term Debt Capital (100,000) 1,000,000 (100,000) 1,000,000 (100,000) 10,000,000 2,000,000 1,000,000 100,000 900,000 5,000,000 20,875,000 Instructions: Prepare a statement of financial position and label its parts. After which, answer the following questions. How much is the total current assets of the entity? How much is the total noncurrent assets of the entity? How much is the total current liabilities of the entity? How much is the total noncurrent liabilities of the entity? How much is the total assets of the entity? How much is the ratio of the current assets to the current liabilities?
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