Requirements: 1. How much is the total assets? 2. How much is the total liabilities? 3. How much is the total equity? 4. How much is the total net income? (Ignore income taxes)
Presented below is the
Cash 197,000
Sales 7,900,000
Trading Securities (at cost, P145,000) 153,000
Cost of goods sold 4,800,000
Long-term investments in bonds 299,000
Long-term investment in share capital - ordinary 277,000
Short-term notes payable 90,000
Accounts payable 455,000
Selling expenses 2,000,000
Investment revenue 63,000
Land 260,000
Buildings 1,040,000
Dividends payable 136,000
Accrued liabilities 96,000
Allowance for doubtful accounts 25,000
Administrative Expenses 900,000
Interest Expense 211,000
Inventories 597,000
Provision for pension (long term) 80,000
Long term notes payable 900,000
Equipment 600,000
Bonds Payable 1,000,000
Accumulated Depreciation – Equipment 60,000
Franchise 160,000
Shares Capital – Ordinary 1,000,000
Treasury Shares 191,000
Patent 195,000
Other comprehensive income 80,000
Requirements:
1. How much is the total assets?
2. How much is the total liabilities?
3. How much is the total equity?
4. How much is the total net income? (Ignore income taxes)
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