The ending capital balances of capital stock and retained earnings are P865,000 and P238,000, respectively. A net loss of P302,000 for the period. How much is the ending balances of cash?
The ending capital balances of capital stock and retained earnings are P865,000 and P238,000, respectively. A net loss of P302,000 for the period. How much is the ending balances of cash?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:3. The following data were taken from the statement of realization and liquidation of AAA Corp.
for the quarter ended June 1, 2011.
Assets to be realized
687,500
1,062,500
Supplementary credits
Liabilities to be liquidated
Supplementary charges
Liabilities liquidated
Assets acquired
1,125,000
975,000
750,000
750,000
The ending capital balances of capital stock and retained earnings are P865,000 and P238,000,
respectively. A net loss of P302,000 for the period. How much is the ending balances of cash?
А. 1,500,000
В. 1,680,000
C. 1,305,000
D. 1,076,000
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