II. BASIC ACCOUNTING EQUATIONDirection: Fill up the missing amounts for each case.Case 1Case 2Case 3P120,000AssetsLiabilitiesP100,00045,00035,00035,000Owner"s Equity65,000• Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and Management part 1, Bandolin Enterprise,(Publishing and Printing) Bakakeng Sur, Baguio CityIV. EXPANDED ACCOUNTING EQUATION Direction:Fill up the missing amounts for each case.Case 1P100,00035,000Case 2Case 3P120,000RevenueExpensesProfit / Loss• Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and Management part 1, Bandolin Enterprise,(Publishing and Printing) Bakakeng Sur, Baguio City35,00045,00025,000

Name: II. BASIC ACCOUNTING EQUATIONDirection: Fill up the missing amounts f
Uploaded: 2022-11-21T15:41:50.000Z
Channel: Bartleby
Description: II. BASIC ACCOUNTING EQUATIONDirection: Fill up the missing amounts for each case.Case 1Case 2Case 3P120,000AssetsLiabilitiesP100,00045,00035,00035,000Owner"s Equity65,000• Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and

“Since you have asked multiple question, we will solve the first question for you. If you want any…

Answered: III. BASIC ACCOUNTING EQUATION…

Business

Accounting

III. BASIC ACCOUNTING EQUATION Direction: Fill up the missing amounts for each case. Case 1 P100,000 45,000 Case 2 Case 3 P120,000 Assets Liabilities 35,000 35,000 Owner"s Equity 65,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: (a. investment banking b. insurance firms c. commercial banking d. mutual fund e. pension fund)…

A: The correct answer is commercial banking as banks are the transformer of short term liabilities to…

Q: Q5) Do Horizontal and Vertical analysis of the following Balance Sheet of Ali and Co. 2020 49,000…

A: Horizontal analysis is used to examine a company's financial statements throughout a number of…

Q: Assets - Liabilities = Owner's Equity $81, 600…

A: Accounting Equation is Assets = Liabilities + Equity Accounting Equation Means That in Balance…

Q: Determine the missing amount Assets Liabilities Equity…

A: Formula for accounting equation: Assets = Liabilities + owners equity + Revenues - Expenses.

Q: Determine the missing amount from each of the separate situations given below. 1. 2. 3. $ $ Assets =…

A: The relationship between a company's assets, liabilities, and equity is represented by the…

Q: the estimated amount of depreciation on equipment for a period is $3,500, the adjusting entry to…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Determine the missing amount from each of the separate situations given below. 1. 23 Assets $…

A: Lets understand the basics.Basic accounting equation, also named as balance sheet equation,…

Q: Calculate the current ratio in each of the following separate cases. Current Assets Current…

A: The current ratio is calculated as current assets divided by current liabilities.

Q: 9. The balance sheet of Kurtze, Inc. shows the following account balances: inventory, P2,900,…

A: Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only one…

Q: Palmer Co. had the following amounts for its assets. liabilities, and stockholders' equity accounts…

A: We have, Net realizable value of assets : Cash = $20,000 Accounts receivable = $80,000 Inventory =…

Q: Required: Solve for the amount of the missing element. Case A Case B Case C Assets 14,400 5,600…

A: As per accounting equation :- Assets = Liabilities + Capital Liabilities = Assets - Capital Capital…

Q: Problem

A: Step 1: introduction to the Return on Assets:The return on assets shows the amount of net income as…

Q: What is net income? O 30,000 O 44,600 O 55,000 435,000

A: The net income is calculated as difference between revenue and expenses of the current period. Net…

Q: Determine the missing amount from each of the seperate situations given below. Assets =…

A: Accounting Equation The source document is the origin of a transaction & it initiates the…

Q: ased on the data for Privett Company, what is the amount of working capital? a. $191,425 b. $130,178…

A: Introduction:- Ratio analysis used identify the business performance of the company. It is used to…

Q: Presented below is information available for Marley Company. Current Assets Cash…

A: Quick assets = Cash + Short term investment + Account receivable Quick assets = $4,000 + $55,000 +…

Q: AN Use the Financial statement and add information shown to (1)Prefare a statment of Cash Flows For…

A: The cash that is coming into entity and going out from entity is recorded in a statement called cash…

Q: Required information Skip to question [The following information applies to the questions…

A: Lets understand the basics. There are two types of analysis are used which are, (1) Horizontal…

Q: The assets and liabilities of a company are $128,000 and $84,000, respectively. Owner's equity…

A: Stockholders' equity means the net assets available to shareholders after deducting all the…

Q: A9 please help.....

A: The basic accounting equation is the foundation of all double entry bookkeeping. The accounting…

Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

Question

Practice Pack

OFFON

II. BASIC ACCOUNTING EQUATION
Direction: Fill up the missing amounts for each case.
Case 1
Case 2
Case 3
P120,000
Assets
Liabilities
P100,000
45,000
35,000
35,000
Owner"s Equity
65,000
• Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and Management part 1, Bandolin Enterprise,
(Publishing and Printing) Bakakeng Sur, Baguio City
IV. EXPANDED ACCOUNTING EQUATION Direction:
Fill up the missing amounts for each case.
Case 1
P100,000
35,000
Case 2
Case 3
P120,000
Revenue
Expenses
Profit / Loss
• Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and Management part 1, Bandolin Enterprise,
(Publishing and Printing) Bakakeng Sur, Baguio City
35,000
45,000
25,000

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

Includes step-by-step video

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Learn your way

Includes step-by-step video

Step by step

Solved in 2 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Accounting Equation Determine the missing amount for each of the following: Assets Liabilities Owner's Equity a. $187,970 $587,400 b. $93,980 $29,370 +. C. $45,230 $6,460 ||
Ee 20.
Probability of financial Value of debt distress $0 0% $2,500,000 1% $5,000,000 2% $7,500,000 4% $10,000,000 8% $12,500,000 16% $15,000,000 32% $20,000,000 64%
K If the owner's equity is $135,000 and total liabilities are $90,000, then total assets would be OA. $90,000 OB. $225,000 OC. $45,000 OD. $135,000
q. 13 A company has $628 in inventory, $1,921 in net fixed assets, $300 in accounts receivable, $141 in cash, and $354 in accounts payable. What are the company’s total current assets? $769 $1,069 $2,990 $1,123 $1,423
119il 12.6KB/s 8:48 VOLTE 60% Q2.pdf 1 The following is the Schedule of balances as on 31.3.1988 extracted from the bo Gavaskar, who caries on business under the name and style of Messrs Gavaskar Visuanin Co., at Bombay: Dr. Cr. Amount Amount Particulars Rs Rs 1,400 S Cash in Handr. •Cash at Bank Cn S Sundry Debtors lor, 2,600 86,000 Stock as on 1.4.1987– 62,000 Furniture & Fixtures 21,400 Office Equipment Buildings 16,000 60,000 Motor Car 20,000 Sundry Creditors Loan from Viswanath 43,000 30,000 Reserve for Bad Debts 3,000 Purchases u Purchase Returgs pr 1,40,000 2,600 Sales- Sales Returns 2,30,000 Salaries 4,200 Rent for Godown Pr 11,000 Interest on loan from Viswanath . 5,500 Rates and taxes 2,700 Discount allowed to Debtors 2,100 Discount received from Creditors 2,400 Freight on Purchases Carriage Outwards Drawings Printing & Stationery Electric Charges 1,600 1,200 2,000 12,000 1,800 2,200 Contd.... 1/2
Camaro GTO Torino Cash $ 2,350 $ 220 $ 1,200 Short-term investments 0 0 700 Current receivables 250 500 450 Inventory 2,150 2,000 3,000 Prepaid expenses 300 600 900 Total current assets $ 5,050 $ 3,320 $ 6,250 Current liabilities $ 2,200 $ 1,310 $ 3,500 Compute the acid-test ratio for each of the separate cases above.
J. P. Robard Mfg., Inc. Balance Sheet ($000) Cash $470 Accounts receivable 2,100 Inventories 940 Current assets $3,510 Net fixed assets 4,590 Total assets $8,100 Accounts payable $1,120 Accrued expenses 580 Short-term notes payable 280 Current liabilities $1,980 Long-term debt 2,040 Owners' equity 4,080 Total liabilities and owners' equity $8,100 (Click on the icon in order to copy its contents into a spreadsheet.) J. P. Robard Mfg., Inc. Income Statement ($000) Net sales (all credit) $8,010 Cost of goods sold (3,300) Gross profit $4,710 Operating expenses (includes $500 depreciation) (3,090) Net operating income $1,620 Interest expense (360) Earnings before taxes $1,260 Income taxes (35%) (441) Net income $819