Answered: Compute for the capital

Business

Accounting

Compute for the capital

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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Question

12. Samantha Company had the following account balances at the end of May of the current year: Cash P48,500; Trading Securities P32.800; Receivables P72.300; Inventories P37,490; Machinery & Equipment P678.100: Furniture & Fixtures P100,640; Prepayments P85,280; Building P700,200; Patents P76,460; Trademark P56.790: Accounts Payable P276,420; Unearned Revenues P54,750; Bonds Payable P290,000; Mortgage Payable P12,370; Accrued Expenses P7,890; Interest Income P32.000: Service Revenue P765.340. Compute for the capital:*

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