P 122,500 219,000 60,000 Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Equipment Advertising Expense Art Revenues 60,000 105,000 1,437,500 450,000 Building Cash Depreciation Expense-Building Depreciation Expense-Equipment Equipment Interest Expense 36,200 30,000 30,000 217,000 37,000 Land 120,000 Miscellaneous Expense Mortgage Payable Notes Payable Office Supplies Blanche, Capital, 1/1/2017 Blanche, Withdrawals Representation Expense Salaries Expense Salaries Payable Travel Expense 24,600 395,000 213,000 17,200 50,500 148,600 164,000 673,200 17,300 159,000 During the year, Blanche invested additional P75,000 in the business.
P 122,500 219,000 60,000 Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation-Equipment Advertising Expense Art Revenues 60,000 105,000 1,437,500 450,000 Building Cash Depreciation Expense-Building Depreciation Expense-Equipment Equipment Interest Expense 36,200 30,000 30,000 217,000 37,000 Land 120,000 Miscellaneous Expense Mortgage Payable Notes Payable Office Supplies Blanche, Capital, 1/1/2017 Blanche, Withdrawals Representation Expense Salaries Expense Salaries Payable Travel Expense 24,600 395,000 213,000 17,200 50,500 148,600 164,000 673,200 17,300 159,000 During the year, Blanche invested additional P75,000 in the business.
Financial Reporting, Financial Statement Analysis and Valuation
8th Edition
ISBN:9781285190907
Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Chapter8: Investing Activities
Section: Chapter Questions
Problem 1.3AIC: Estimate the average total estimated useful life of depreciable property, plant, and equipment....
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Question
Prepare the Owners equity statement
![Accounts Payable
Accounts Receivable
P 122,500
219,000
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Advertising Expense
Art Revenues
60,000
60,000
105,000
1,437,500
450,000
Building
Cash
36,200
30,000
Depreciation Expense-Building
Depreciation Expense-Equipment
Equipment
Interest Expense
30,000
217,000
37,000
Land
120,000
Miscellaneous Expense
Mortgage Payable
Notes Payable
Office Supplies
Blanche, Capital, 1/1/2017
Blanche, Withdrawals
Representation Expense
Salaries Expense
Salaries Payable
Travel Expense
24,600
395,000
213,000
17,200
50,500
148,600
164,000
673,200
17,300
159,000
During the year, Blanche invested additional P75,000 in the business.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3ab26ed0-bb8d-4fef-8064-0d8716702644%2Fb3843db2-d666-4de9-8a56-474b905f69c4%2Fq6wsa3_processed.png&w=3840&q=75)
Transcribed Image Text:Accounts Payable
Accounts Receivable
P 122,500
219,000
Accumulated Depreciation-Building
Accumulated Depreciation-Equipment
Advertising Expense
Art Revenues
60,000
60,000
105,000
1,437,500
450,000
Building
Cash
36,200
30,000
Depreciation Expense-Building
Depreciation Expense-Equipment
Equipment
Interest Expense
30,000
217,000
37,000
Land
120,000
Miscellaneous Expense
Mortgage Payable
Notes Payable
Office Supplies
Blanche, Capital, 1/1/2017
Blanche, Withdrawals
Representation Expense
Salaries Expense
Salaries Payable
Travel Expense
24,600
395,000
213,000
17,200
50,500
148,600
164,000
673,200
17,300
159,000
During the year, Blanche invested additional P75,000 in the business.
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