Construct the balance sheet of Piggy Farm as of 31 December 2021 given the values in the table. Given the book values of the inventory items of Piggy Farm as of 31 December 2021:VALUE (P)5,000ITEMAccounts payableMachines and equipment1215,0001,50012,4008,70020,0001,7003Cash-on-hand4Merchandise inventoriesRemaining balance on long-term debtBuildings and improvementsCurrent portion of long-term debtAccrued interest payable6.78.1,4009.Accounts receivable6,20014,50010Mortgage payable11Land50,00012Prepaid expenses700

PIGGY FARM BALANCE SHEET as on 31/12/2021 ASSETS Current Assets Cash 1,500…

Given the book values of the inventory items of Piggy Farm as of 31 December 2021: ITEM Accounts payable Machines and equipment VALUE (P) 5,000 15,000 1 2 3 Cash-on-hand 1,500 4 Merchandise inventories 12,400 Remaining balance on long-term debt Buildings and improvements Current portion of long-term debt Accrued interest payable 8,700 20,000 7 1,700 8 1,400 9. Accounts receivable 6,200 Mortgage payable Land 14,500 50,000 10 11 12 Prepaid expenses 700

Given the book values of the inventory items of Piggy Farm as of 31 December 2021: ITEM Accounts payable Machines and equipment VALUE (P) 5,000 15,000 1 2 3 Cash-on-hand 1,500 4 Merchandise inventories 12,400 Remaining balance on long-term debt Buildings and improvements Current portion of long-term debt Accrued interest payable 8,700 20,000 7 1,700 8 1,400 9. Accounts receivable 6,200 Mortgage payable Land 14,500 50,000 10 11 12 Prepaid expenses 700

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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