PROBLEM F Bohol Company provided the following for the current year: Cash balance, January 1 Decrease in long-term debt Gain on sale of equipment P6,000,000 5,000,000 300,000 Depreciation 1,100,000 Proceeds from investment of owners 4,000,000 Purchase of equipment for cash 5,000,000 Cash withdrawal from owner 2,500,000 Net income 7,600,000 Proceeds from sale of equipment 2,000,000 Increase (decrease) in working capital accounts: Accounts Receivable (2,000,000) Inventory Trade accounts and notes payable Income tax payable 2,500,000 3,800,000 (1,500,000)
PROBLEM F Bohol Company provided the following for the current year: Cash balance, January 1 Decrease in long-term debt Gain on sale of equipment P6,000,000 5,000,000 300,000 Depreciation 1,100,000 Proceeds from investment of owners 4,000,000 Purchase of equipment for cash 5,000,000 Cash withdrawal from owner 2,500,000 Net income 7,600,000 Proceeds from sale of equipment 2,000,000 Increase (decrease) in working capital accounts: Accounts Receivable (2,000,000) Inventory Trade accounts and notes payable Income tax payable 2,500,000 3,800,000 (1,500,000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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