Using T – account analysis: Compute for the ending balance or carrying amount of the following: Cash, Accounts Receivable, Building, Equipment, Notes Payable Lucas has the following balances on his book: Cash ₱50,000 Accumulative Depreciation-Building 500,000 Account Receivable 200,000 Accumulative Depreciation-Building 75,000 Building 1,000,000 Notes Payable 100,000 Equipment 500.000 Cash collections 50,000 Allowance for bad debts 50,000 Cash payment 10,000
Using T – account analysis: Compute for the ending balance or carrying amount of the following: Cash, Accounts Receivable, Building, Equipment, Notes Payable Lucas has the following balances on his book: Cash ₱50,000 Accumulative Depreciation-Building 500,000 Account Receivable 200,000 Accumulative Depreciation-Building 75,000 Building 1,000,000 Notes Payable 100,000 Equipment 500.000 Cash collections 50,000 Allowance for bad debts 50,000 Cash payment 10,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
- Using T – account analysis: Compute for the ending balance or carrying amount of the following: Cash,
Accounts Receivable , Building, Equipment, Notes Payable
Lucas has the following balances on his book:
|
Cash |
₱50,000 |
|
Depreciation-Building |
500,000 |
|
Account Receivable |
200,000 |
|
Accumulative Depreciation-Building |
75,000 |
|
Building |
1,000,000 |
|
Notes Payable |
100,000 |
|
Equipment |
500.000 |
|
Cash collections |
50,000 |
|
Allowance for |
50,000 |
|
Cash payment |
10,000
|
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