II. Collaboration and Communications: 1. Determination of Assets, Liabilities and Equity. (5 points each) 1. The assets of the business comprise of P100,000 cash and P900,000 land and building. The land and building have unpaid mortgage, the only liability of the business. The owner"s equity is P650,000. How much is business liability?

II. Collaboration and Communications: 1. Determination of Assets, Liabilities and Equity. (5 points each) 1. The assets of the business comprise of P100,000 cash and P900,000 land and building. The land and building have unpaid mortgage, the only liability of the business. The owner"s equity is P650,000. How much is business liability?

Name: II. Collaboration and Communications:1. Determination of Assets, Liab
Uploaded: 2022-11-21T15:41:50.000Z
Channel: Bartleby
Description: II. Collaboration and Communications:1. Determination of Assets, Liabilities and Equity. (5 points each)1. The assets of the business comprise of P100,000 cash and P900,000 land andbuilding. The land and building have unpaid mortgage, the only liabi

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Which of the following would be an expense for the business a. Buying camping equipment b. Paying R800 towards the loan c. Paying employees their wages
3. Assets is equal to P350,000, Owner's equity is 250,000, How much is the Equity?
2. Assets of TMAM is P15,000 and Total Equity is P10,000, how much is the total Liabilities?
A business has Cash RO 10,000, Receivables RO 4000, Land RO 20,000 and Loan RO 20,000. What is the amount of assets in the business? a. RO 14,000 b. RO 20,000 c. RO 30,000 d. RO 34,000
1. Balance and solve the problem. ACCOUNTS FURNITURES ACCOUNTS RECEIVABLES & FIXTURES UTILIITES OWNER'S TRANSACTION CASH PAYABLE PAYABLE EQUITY 1. Mr. Chu invested P65,000 2. Mr. Chu bought furnitures for his business worth P9,675 3. Mr. Chu borrowed P47,000 from Ms. Chi to add to his business 4. Mr. Chu sold P31,850 worth of products on account 5. Mr. Chu paid the water, electricity and internet bill worth, 9900, P3200 and P1999, respectively 6. Mr.Chu delivered orders and received payment of P18,950 for the products 7. Mr. Chu paid Ms. Chỉ P32,000 8. Mr. Chu invested another P16,200 9. Mr. Chu Paid Ms. Chi ! 3,000 Total Assets: Total Liabilities: Total Owner's Equity:
If the balance of the Lang Capital account was P210,000, what would be the balance of building account?
Direction: Encircle the letter of the best answer. 1.) jade invested P200,000 in a repair business. A. Debit land, credit cash B. Debit cash, credit Juan Dela Cruz, capital C. Debit land, credit account payable 2.) She paid the monthly rent of the office, P10,000. A. Debit cash, credit Juan Dela Cruz, capital B. Debit rent expense, credit cash C. Debit Juan Dela Cruz, personal, credit cash 3.) Sold a house and collected P15,000 commission. A. Debit cash, credit commission income B. Debit cash, credit Juan Dela Cruz, capital C. Debit commission expense, credit cash 4.) Received P20,000 as payment for services rendered to samantha A. Debit cash, credit service income B. Debit accounts receivable, credit service income C. Debit cash, credit accounts receivable 5.) Paid P10,000 salary of the mechanic for the first half of the month. A. Debit cash, credit Juan Dela Cruz, capital B. Debit salary expense, credit cash C. Debit salary expense, credit accounts payable
Help me answer the letters d,e and f thank you
What's New Directions: Compute the missing amount in the equation. Write your answers on a separate sheet of paper. Assets Liabilities Owner's equity 1. Php 100,000.00 Php 50,000.00 2. Php 230,000.00 Php 200,000.00 Php 109,000.00 Php 9,000.00 Php 650,000.00 Php 500,000.00 Php 90,000.00 Php 700,000.00 Php 456,000.00 Php 67,000.00 Php 1,729,000.00 Php 2,716,217.00 Php 729,879.00 Php 167,000.00 8. Php 789,100.00 9. Php 123,456.00 Php 13,780.00 ? 10. Php 15,676.00 3. 4. 5. 6. 7.