Problem 1 The balance sheet of Kangaroo Company as of December 31 is presented below:. 2019 P 45,000 60,000 60,000 70,000 300,000 |(45,000) P490,000 Assets Cash Marketable Securities 2020 Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation P 60,000 85,000 80,000 100,000 300,000 (80,000) P545,000 Total Assets Liabilities and Shareholder's Equity Accounts Payable Short-term Notes Payable Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Shareholder's Equity 35,000 50,000 85,000 200,000 120,000 P490,000 45,000 50,000 75,000 225,000 150,000 P545,000 Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo Company issued additional shares as part of its funding plan.

Problem 1 The balance sheet of Kangaroo Company as of December 31 is presented below:. 2019 P 45,000 60,000 60,000 70,000 300,000 |(45,000) P490,000 Assets Cash Marketable Securities 2020 Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation P 60,000 85,000 80,000 100,000 300,000 (80,000) P545,000 Total Assets Liabilities and Shareholder's Equity Accounts Payable Short-term Notes Payable Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Shareholder's Equity 35,000 50,000 85,000 200,000 120,000 P490,000 45,000 50,000 75,000 225,000 150,000 P545,000 Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo Company issued additional shares as part of its funding plan.

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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