REQUIREMENTS: 1. How much is the total current assets? 2. How much is the total non current assets? 3. How much is the total liabilities and equity? 4. How much is the total equity? *Final answer needs to be rounded off to two(2) decimal places and the format should be (X.XXX,XXX.XX) and you need to omit the peso sign. For example your answer is one million pesos it needs to be presented as: 1,000,000.00
REQUIREMENTS: 1. How much is the total current assets? 2. How much is the total non current assets? 3. How much is the total liabilities and equity? 4. How much is the total equity? *Final answer needs to be rounded off to two(2) decimal places and the format should be (X.XXX,XXX.XX) and you need to omit the peso sign. For example your answer is one million pesos it needs to be presented as: 1,000,000.00
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Answer 3 and 4
Transcribed Image Text:REQUIREMENTS:
1. How much is the total current assets?
2. How much is the total non current assets?
3. How much is the total liabilities and equity?
4. How much is the total equity?
*Final answer needs to be rounded off to two(2) decimal
places and the format should be (X.XXX,XXX.XX) and you
need to omit the peso sign. For example your answer is one
million pesos it needs to be presented as: 1,000,000.00
Transcribed Image Text:Analyze the following accounts and satisfy the requirements
given below.
Accounts payable
Accrued expenses
Accumulated depreciation
Additional paid-in capital
Allowance for doubtful accounts
Cash
Common stock (PO.20 par)
Gross accounts receivable
Gross fixed assets
Inventories
Long term debt
Net accounts receivable
Net fixed assets
Retained earnings
Short-term bank loan (notes payable)
P 39,000
8,000
51,000
86,000
2,000
23,000
45,000
40,000
486,000
54,000
210,000
38,000
435,000
138,000
24,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education