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REQUIREMENTS: 1. How much is the total current assets? 2. How much is the total non current assets?

REQUIREMENTS: 1. How much is the total current assets? 2. How much is the total non current assets?

FINANCIAL ACCOUNTING
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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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
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
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: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
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