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Statement of Realization and Liquidation has been prepared for Promise Fulfilled Company. The totals are given below:  Assets to be realized                  60,000        Liabilities assumed                          50,000 Assets acquired                               40,000   Liabilities not liquidated                65,000 Assets not realized         80,000                    Supplementary credits                  110,000 Liabilities to be liquidated               80,000    Supplementary charges                      ?   Retained earnings increased by P25,000. The beginning balance of Share

Statement of Realization and Liquidation has been prepared for Promise Fulfilled Company. The totals are given below:  Assets to be realized                  60,000        Liabilities assumed                          50,000 Assets acquired                               40,000   Liabilities not liquidated                65,000 Assets not realized         80,000                    Supplementary credits                  110,000 Liabilities to be liquidated               80,000    Supplementary charges                      ?   Retained earnings increased by P25,000. The beginning balance of Share

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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A Statement of Realization and Liquidation has been prepared for Promise Fulfilled Company. The totals are given below: 

Assets to be realized                  60,000        Liabilities assumed                          50,000

Assets acquired                               40,000   Liabilities not liquidated                65,000

Assets not realized         80,000                   

Supplementary credits                  110,000

Liabilities to be liquidated               80,000    Supplementary charges                      ?

 
Retained earnings increased by P25,000. The beginning balance of Share Capital and Retained Earnings are P100,000 and (P40,000), respectively.

 
How much is the ending cash balance? 

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