JCV Company's records show the following information: December 31, 2018 100,000 December 31, 2019 150,000 (3) 250,000 Cash Accounts Receivable 150,000 Merchandise Inventory Equipment, net Land (1) 900,000 300,000 (2) 150,000 1,000,000 (4) Trade accounts payable Accrued expenses Non-current liabilities 450,000 (5) 260,000 (6) Additional information are as follows: • Working capital of the Company amounted to P50,000 as of December 31, 2018, and increased to P70,000 as of December 31, 2019, respectively. A piece of land costing P100,000 were sold during 2019. There were no other changes in the owner's equity during 2019 other than the net income or net loss. Total liabilities as of December 31, 2018 amounted to P710,000 while total assets as of December 31, 2019 amounted to P1,900,000. Total revenues amounted to P150,000 while total expenses amounted to P165,000.

JCV Company's records show the following information: December 31, 2018 100,000 December 31, 2019 150,000 (3) 250,000 Cash Accounts Receivable 150,000 Merchandise Inventory Equipment, net Land (1) 900,000 300,000 (2) 150,000 1,000,000 (4) Trade accounts payable Accrued expenses Non-current liabilities 450,000 (5) 260,000 (6) Additional information are as follows: • Working capital of the Company amounted to P50,000 as of December 31, 2018, and increased to P70,000 as of December 31, 2019, respectively. A piece of land costing P100,000 were sold during 2019. There were no other changes in the owner's equity during 2019 other than the net income or net loss. Total liabilities as of December 31, 2018 amounted to P710,000 while total assets as of December 31, 2019 amounted to P1,900,000. Total revenues amounted to P150,000 while total expenses amounted to P165,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Annie Rasmussen, capital, as of December 31, 2019, assuming that assets increased by $103,030 and liabilities decreased by $39,030 during 2019.
Please help solve
The adjusted trial balance of Palm Realtors Ltd. at December 31, 2019, appears below: Palm Realtors Ltd.Adjusted Trial BalanceDecember 31, 2019Cash $ 8,950Accounts receivable 53,530Prepaid rent 2,200Equipment 45,690Accumulated amortization $ 18,930Accounts payable 15,900Interest payable 900Salary payable 3,500Income tax payable 4,700Note payable (due 2025) 19,500Common shares 8,000Retained earnings 29,325Dividends 30,000Commissions 227,480Depreciation expense 6,260Salary expense 140,500Rent expense 26,400Interest expense 1,500Income tax expense 13,205Total $328,235 $328,235 Prepare in good form a classified statement of financial position for Palm Realtors Ltd as at December 31, 2019,
rmn.2
Pharoah Corporation's balance sheet at the end of 2019 included the following items. Current assets (Cash $82,000) $236,810 32,710 Land Buildings Equipment Accum. depr.-buildings Accum. depr.-equipment Patents Total 1. 2. 3. The following information is available for 2020. 4. 121,810 5. 92,710 (31,810 ) (11,000 ) 41,810 $483,040 Current liabilities Bonds payable Common stock Retained earnings Total $151,810 101,810 182,710 46,710 $483,040 Net income was $54,680. Equipment (cost $21,810 and accumulated depreciation $9,810) was sold for $11,810. Depreciation expense was $5,810 on the building and $10,810 on equipment. Patent amortization was $2,500. Current assets other than cash increased by $29,000. Current liabilities increased by $14,810.
Guidelines: Construct a statement of comprehensive income for the years 2019 and 2020. Given is the 2-period Adjusted Trial Balance
Refer to the 3.00% senior notes due May 2027. Calculate the interest expense on this note for fiscal year 2022.
Please help me
Using horizontal analysis , calculate the percentage of the base- year amount, using 2019 as the base year. please answer do not image.
A revenue was earned in 2019 but payment is not received until 2020. Using the accrual basis of accounting, the revenue should appear on: A. the 2020 income statement B. the 2019 income statement C. both the 2019 and 2020 income statements D. neither the 2019 nor 2020 income statement
MBA Company had the following income statement in 2019: depreciation OMR20000, net income OMR90000.The The following accounts increased during 2019: Accounts receivable OMR22000, Account payableOMR3400, inventoriesOMR46000.Cash from operating activities is:
At the end of the year of 2019, Barney BarN Inc. has atotal assets of P 8, 435,969 and total liabilities of P 2,561, 367. During the year of 2019, assets increased by P 482,463 while liabilities decreased by P163,469. What is the amount of capital at the beginning of2019?