Data for 19 and 20 Ahn Jung Ha Company provided the following information for 2020: Current asset, Jan 1- P240,000; Property, Plant and Equipment, Jan 1- P1,600,000; Non-current liabilities- P580,000; Property, Plant and Equipment, Dec 31-P1,700,000; Current liabilities- P130,000. All assets are reported at year-end. Working capital of P90,000 remained unchanged. Net income for 2021 was P60,000. No dividend was declared during the year and there were no other changes in the shareholders' equity. 19. How much is the amount of current assets on Dec. 31, 2020? A. P40,000 B. P90,000 C. P130,000 D. P220,000 20. How much is the shareholders' equity on Dec. 31, 2020? A. P1,050,000 B. P1,080,000 C. P1,110,000 D. P1,210,000

Data for 19 and 20 Ahn Jung Ha Company provided the following information for 2020: Current asset, Jan 1- P240,000; Property, Plant and Equipment, Jan 1- P1,600,000; Non-current liabilities- P580,000; Property, Plant and Equipment, Dec 31-P1,700,000; Current liabilities- P130,000. All assets are reported at year-end. Working capital of P90,000 remained unchanged. Net income for 2021 was P60,000. No dividend was declared during the year and there were no other changes in the shareholders' equity. 19. How much is the amount of current assets on Dec. 31, 2020? A. P40,000 B. P90,000 C. P130,000 D. P220,000 20. How much is the shareholders' equity on Dec. 31, 2020? A. P1,050,000 B. P1,080,000 C. P1,110,000 D. P1,210,000

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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