Problem 1-4 Langga Realty had the following balance sheet accounts and balances: Accounts Payable P600,000 Accounts Receivable 100,000 Building ? Cash 300,000 Equipment 700,000 Ashley Langga, Capital ? Land 700,000 1. If the balance of the Langga, Capital account was P2,100,000, what would be the balance of the Building account? a. P2,500,000 b. P400,000 c. P900,000 d. P2,100,000 2. If the balance of the Building account was P1,700,000, what would be the total of liabilities and owner's equity? a. P1,700,000 b. P2,700,000 c. P3,200,000 d. P3,500,000 3. If the balance of the Building account was P1,500,000 and the equipment was sold for P700,000, what would be the total of owner's equity? a. P1,500,000 b. P1,600,000 c. P2,700,000 d. P3,300,000

Problem 1-4 Langga Realty had the following balance sheet accounts and balances: Accounts Payable P600,000 Accounts Receivable 100,000 Building ? Cash 300,000 Equipment 700,000 Ashley Langga, Capital ? Land 700,000 1. If the balance of the Langga, Capital account was P2,100,000, what would be the balance of the Building account? a. P2,500,000 b. P400,000 c. P900,000 d. P2,100,000 2. If the balance of the Building account was P1,700,000, what would be the total of liabilities and owner's equity? a. P1,700,000 b. P2,700,000 c. P3,200,000 d. P3,500,000 3. If the balance of the Building account was P1,500,000 and the equipment was sold for P700,000, what would be the total of owner's equity? a. P1,500,000 b. P1,600,000 c. P2,700,000 d. P3,300,000

Name: Problem 1-4Langga Realty had the following balance sheet accounts and
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Description: Problem 1-4Langga Realty had the following balance sheet accounts and balances:Accounts Payable P600,000Accounts Receivable 100,000Building ?Cash 300,000Equipment 700,000Ashley Langga, Capital ?Land 700,0001. If the balance of the Langga, Capital ac

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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