III. Compute for the totoal current assets, total noncurrent assets, total current liabilities and total noncurrent liabilities to be shown in the Statement of financial position of Domino Brothers Inc. Information on the accounts of the Domino Brothers Inc. as of December 311, 2020 is as follows: (Solution is required) Р30, 000 70, 000 Notes receivable - matures in 4 equal annual 400, 000 Cash Accounts receivable installments Inventory Equipment Accumulated depreciation-equipment Accounts payable Notes payable - P100, 000 due within 1 year Rent payable (due in 2 years) Utilities payable Interest payable Salaries payable 150, 000 2, 000, 000 (380, 000) 187, 000 600, 000 62, 000 30, 000 25, 000 90, 000 Unearned Income 750, 000 Domino, Capital 526, 000
III. Compute for the totoal current assets, total noncurrent assets, total current liabilities and total noncurrent liabilities to be shown in the Statement of financial position of Domino Brothers Inc. Information on the accounts of the Domino Brothers Inc. as of December 311, 2020 is as follows: (Solution is required) Р30, 000 70, 000 Notes receivable - matures in 4 equal annual 400, 000 Cash Accounts receivable installments Inventory Equipment Accumulated depreciation-equipment Accounts payable Notes payable - P100, 000 due within 1 year Rent payable (due in 2 years) Utilities payable Interest payable Salaries payable 150, 000 2, 000, 000 (380, 000) 187, 000 600, 000 62, 000 30, 000 25, 000 90, 000 Unearned Income 750, 000 Domino, Capital 526, 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Compute for total current assests, total uncurrent assets, total current liabilities and total uncurrent liabilities
Transcribed Image Text:III. Compute for the total current assets, total noncurrent assets, total current liabilities and
total noncurrent liabilities to be shown in the Statement of financial position of Domino
Brothers Inc. Information on the accounts of the Domino Brothers Inc. as of December 31,
2020 is as follows: (Solution is required)
Cash
P30, 000
70, 000
Notes receivable – matures in 4 equal annual 40O, 000
Accounts receivable
installments
150, 000
2, 000, 000
Inventory
Equipment
Accumulated depreciation-equipment
Accounts payable
Notes payable - P100, 000 due within 1 year
Rent payable (due in 2 years)
Utilities payable
Interest payable
Salaries payable
(380, 000)
187, 000
600, 000
62, 000
30, 000
25, 000
90, 000
750, 000
Unearned Income
Domino, Capital
526, 000
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