The following data were taken from the statement of realization and liquidation of DLR Corporation for the quarter that ended September 30, 2022: Assets to be realized 495,000 540,000 Assets acquired Assets Realized Assets not realized Liabilities to be liquidated Liabilities assumed Liabilities liquidated Liabilities not liquidated Supplementary credits Supplementary charges 630,000 225,000 810,000 270,000 b. (252,000) c. (315,000) d. 315,000 305,000 675,000 765,000 937,000 As of September 30, 2022, DLR's capital stock is P450,000 and retained earnings is P432,000. No additional shares were issued after that date. 19. What is the net income (loss) for the period? a. 252,000
The following data were taken from the statement of realization and liquidation of DLR Corporation for the quarter that ended September 30, 2022: Assets to be realized 495,000 540,000 Assets acquired Assets Realized Assets not realized Liabilities to be liquidated Liabilities assumed Liabilities liquidated Liabilities not liquidated Supplementary credits Supplementary charges 630,000 225,000 810,000 270,000 b. (252,000) c. (315,000) d. 315,000 305,000 675,000 765,000 937,000 As of September 30, 2022, DLR's capital stock is P450,000 and retained earnings is P432,000. No additional shares were issued after that date. 19. What is the net income (loss) for the period? a. 252,000
Cornerstones of Financial Accounting
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Chapter7: Operating Assets
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![The following data were taken from the statement of realization and liquidation of DLR
Corporation for the quarter that ended September 30, 2022:
Assets to be realized
Assets acquired
Assets Realized
Assets not realized
Liabilities to be liquidated
Liabilities assumed
Liabilities liquidated
Liabilities not liquidated
Supplementary credits
Supplementary charges
495,000
540,000
630,000
225,000
810,000
270,000
305,000
675,000
765,000
937,000
As of September 30, 2022, DLR's capital stock is P450,000 and retained earnings is
P432,000. No additional shares were issued after that date.
b. (252,000)
c. (315,000)
d. 315,000
20. What is the ending cash balance?
a. 1,305,000
b. 840,000
c. 1,050,000
d. 1,080,000
19. What is the net income (loss) for the period?
a. 252,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd99593f3-db82-42cf-aed6-1e0dfde299bd%2F3aefcb28-829c-4421-b1da-129910b62faa%2F488doy9_processed.png&w=3840&q=75)
Transcribed Image Text:The following data were taken from the statement of realization and liquidation of DLR
Corporation for the quarter that ended September 30, 2022:
Assets to be realized
Assets acquired
Assets Realized
Assets not realized
Liabilities to be liquidated
Liabilities assumed
Liabilities liquidated
Liabilities not liquidated
Supplementary credits
Supplementary charges
495,000
540,000
630,000
225,000
810,000
270,000
305,000
675,000
765,000
937,000
As of September 30, 2022, DLR's capital stock is P450,000 and retained earnings is
P432,000. No additional shares were issued after that date.
b. (252,000)
c. (315,000)
d. 315,000
20. What is the ending cash balance?
a. 1,305,000
b. 840,000
c. 1,050,000
d. 1,080,000
19. What is the net income (loss) for the period?
a. 252,000
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