Fill in the blanks:If the liabilities of the business amount to P120,000 and its residual interest amounts to P195,000, thenis the amount of the economic resources of the business.( PreviousContinue > Fill in the blanks:If the total owner's equity of the company is P180,000 which is 2/3 of the total assets, thenis the amount of total liabilities.< PreviousContinue >

Total assets are the sum of current assets and fixed assets. And total asset is equal to the total…

Answered: Fill in trhe If the liabilities of the…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Prepare a statement of profit and loss allocation, capital account, current account, and extract of statement of financial position at that date from the following for the year ending December 31, 2020: i) A net gain of RM30,350 ii) Capitalized interest to be assessed: Halim paid RM900, Wong RM2,000, and Pang RM1,500. iii) Drawings for Wong, Pang, and Halim will each be subject to RM240 in interest. iv) Salary credits to be given: RM2,000 for Pang; RM3,500 for Halim. v) Wong will receive 50% of the profit, Pang 30%, and Halim 20%. vi) Current account b/f: Halim RM717, Pang RM946, and Wong RM1,860 vii) Capital account between Wong, Pang, and Halim: RM40,000; RM30,000; and RM18,000 viii) Drawings: Halim RM6,900; Wong RM 9,200; Pang RM 7,100
.
Show the solution in good accounting form. Thank you! 1. How much should be shown in FIVE's 2021 income statement as gross rental income? a. ₱ 60,000 b. ₱ - 0 - c. ₱ 6,000 d. ₱ 30,000
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If liabilities are $133,000 and owners equity is $79,000, the amount of assets is:
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Fill in trhe If the liabilities of the business amount to P120,000 and its residual interest amounts to P195,000, then is the amount of the economic resources of the business.