Comprehensive Problem The following were taken from the books of Amihan Company: Long-term Payable Notes Payable Property. Plant and Equipment Accounts Receivable Accounts Payable Accumulated Depreciation Cash Owner's Capital Unearned Income Notes Receivable Prepaid Expenses Accrued Expenses Inventory Intangible Assets P 500,000 120,000 750,000 56,000 65,000 100,000 77,000 ? 15.345 244.000 56,700 37.890 157,840 124.500 OUTPUT 1 Prepare a classified SFP given the following additional information: (ACCOUNT FORM) SFP a. Notes Payable is due 6 months from now. b. Notes Receivable is collectible 9 months from now. c. Prepaid Expenses is current. d. Date of SFP, December 31, 2020
Comprehensive Problem The following were taken from the books of Amihan Company: Long-term Payable Notes Payable Property. Plant and Equipment Accounts Receivable Accounts Payable Accumulated Depreciation Cash Owner's Capital Unearned Income Notes Receivable Prepaid Expenses Accrued Expenses Inventory Intangible Assets P 500,000 120,000 750,000 56,000 65,000 100,000 77,000 ? 15.345 244.000 56,700 37.890 157,840 124.500 OUTPUT 1 Prepare a classified SFP given the following additional information: (ACCOUNT FORM) SFP a. Notes Payable is due 6 months from now. b. Notes Receivable is collectible 9 months from now. c. Prepaid Expenses is current. d. Date of SFP, December 31, 2020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Comprehensive Problem
The following were taken from the books of Amihan Company:
Long-term Payable
Notes Payable
Property. Plant and Equipment
Accounts Receivable
Accounts Payable
Accumulated Depreciation
Cash
Owner's Capital
Unearned Income
Notes Receivable
Prepaid Expenses
Accrued Expenses
Inventory
Intangible Assets
P 500,000
120.000
750,000
56.000
65,000
100,000
77,000
c. Prepaid Expenses is current.
d. Date of SFP, December 31, 2020
?
15.345
244.000
56.700
37,890
157,840
124,500
OUTPUT 1 Prepare a classified SFP given the following additional information: (ACCOUNT FORM)
SFP
a. Notes Payable is due 6 months from now.
b. Notes Receivable is collectible 9 months from now.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa5226ee2-2c80-4e25-a2b3-d489ef6027e1%2F147a0d59-99c0-498a-9653-fb89fe29d988%2Fmi8xjat_processed.png&w=3840&q=75)
Transcribed Image Text:Comprehensive Problem
The following were taken from the books of Amihan Company:
Long-term Payable
Notes Payable
Property. Plant and Equipment
Accounts Receivable
Accounts Payable
Accumulated Depreciation
Cash
Owner's Capital
Unearned Income
Notes Receivable
Prepaid Expenses
Accrued Expenses
Inventory
Intangible Assets
P 500,000
120.000
750,000
56.000
65,000
100,000
77,000
c. Prepaid Expenses is current.
d. Date of SFP, December 31, 2020
?
15.345
244.000
56.700
37,890
157,840
124,500
OUTPUT 1 Prepare a classified SFP given the following additional information: (ACCOUNT FORM)
SFP
a. Notes Payable is due 6 months from now.
b. Notes Receivable is collectible 9 months from now.
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