Subscribed share capital Unissued share capital Authorized share capital 1,200,000 2,600,000 4,000,000 9,000,000 Sales Purchases 8,600,000 Expenses (including depreciation of P 100,000 and accrued expenses of P 30,000) 1,800,000 Question: The cash in bank balance at December 31, 2010 is
Subscribed share capital Unissued share capital Authorized share capital 1,200,000 2,600,000 4,000,000 9,000,000 Sales Purchases 8,600,000 Expenses (including depreciation of P 100,000 and accrued expenses of P 30,000) 1,800,000 Question: The cash in bank balance at December 31, 2010 is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Cash in bank balance of Novaliches Co. on January 1, 2010 was P 1,400,000 representing 35% paid-
up capital of its authorized share capital of P 4,000,000. During the year you ascertained the
following postings to come accounts, as follows:
Debit
Credit
Petty cash fund
Accounts receivable trade
P 40,000
9,000,000
1,200,000
1,000,000
5,600,000
700,000
P 5,800,000
1,000,000
Subscription receivable
Delivery equipment
Accounts payable trade
Bank loan
Accrued expenses
Subscribed share capital
Unissued share capital
Authorized share capital
8,600,000
1,500,000
30,000
1,200,000
2,600,000
4,000,000
9,000,000
Sales
Purchases
8,600,000
Expenses (including depreciation of
P 100,000 and accrued expenses of
P 30,000)
1,800,000
Question:
The cash in bank balance at December 31, 2010 is
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

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.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