Problem 9/22/21 A. Below are the accounts of J.L Laundry for the month ended Marc 31, 2015 Instructions: Prepare a statement of financial position and label its parts. After which, answer the following questions. a. How much is the total current asset of the entity? b. How much is the total non current asset of the entity? c. How much is the total current liability of the entity?
Problem 9/22/21 A. Below are the accounts of J.L Laundry for the month ended Marc 31, 2015 Instructions: Prepare a statement of financial position and label its parts. After which, answer the following questions. a. How much is the total current asset of the entity? b. How much is the total non current asset of the entity? c. How much is the total current liability of the entity?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Problem 9/22/21
A. Below are the accounts of J.L Laundry for the month ended Marc 31, 2015
Instructions: Prepare a
a. How much is the total current asset of the entity?
b. How much is the total non current asset of the entity?
c. How much is the total current liability of the entity?
d. How much is the total non current liability of the entity?
e. How much is the total asset of the entity?
| Delivery Truck | 120,000.00 |
| Cash | 22,400.00 |
| Accounts Payable | 120,000.00 |
| Laundry Supplies | 2,000.00 |
| Inerest Payable | 1,200.00 |
| Laundry Equipment | 80,000.00 |
| Accounts Recievable | ₱3,900.00 |
| Net profit for the month | 11,100.00 |
| J.L Capital | 104,000.00 |
| J.L Drawing | 1,000.00 |
| Filipinas Hotel | 4,600.00 |
| D & E Coffee Shop | 2,400.00 |
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