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11. BTS Company reported the following increase(decrease) in the account balances for the current year: Cash P 1,500,000 3,500,000 3,900,000 (1,000,000) During the year, the entity sold for cash 100,000 shares with P20 par for P30 per share. Dividend of P4,500,000 was paid in cash. The entity borrowed P4,000,000 from the bank and paid off note of P1,000,000 and interest of P600,000. The entity had no other loan payable. Interest of P400,000 was payable on December 31. Interest payable on January 1 was P100,000. Equipment of P2,000,000 was donated by shareholder during the year. What was the net Accounts receivable Inventory Investments Equipment Accounts payable Bonds payable P3,000,000 (800,000) 2,000,000 income for the year?

11. BTS Company reported the following increase(decrease) in the account balances for the current year: Cash P 1,500,000 3,500,000 3,900,000 (1,000,000) During the year, the entity sold for cash 100,000 shares with P20 par for P30 per share. Dividend of P4,500,000 was paid in cash. The entity borrowed P4,000,000 from the bank and paid off note of P1,000,000 and interest of P600,000. The entity had no other loan payable. Interest of P400,000 was payable on December 31. Interest payable on January 1 was P100,000. Equipment of P2,000,000 was donated by shareholder during the year. What was the net Accounts receivable Inventory Investments Equipment Accounts payable Bonds payable P3,000,000 (800,000) 2,000,000 income for the year?

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter3: Review Of A Company's Accounting System
Section: Chapter Questions
Problem 9RE: For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the...
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11. BTS Company reported the following increase(decrease) in the account balances for the current year: P 1,500,000 3,500,000 3,900,000 (1,000,000) During the year, the entity sold for cash 100,000 shares with P20 par for P30 per share. Dividend of P4,500,000 was paid in cash. The entity borrowed P4,000,000 from the bank and paid off note of P1,000,000 and interest of P600,000. The entity had no other loan payable. Interest of P400,000 was payable on December 31. Interest payable on January 1 was P100,000. Equipment of P2,000,000 was donated by shareholder during the year. What was the net Cash Accounts receivable Inventory Investments Equipment Accounts payable Bonds payable P3,000,000 (800,000) 2,000,000 income for the year?
Transcribed Image Text:11. BTS Company reported the following increase(decrease) in the account balances for the current year: P 1,500,000 3,500,000 3,900,000 (1,000,000) During the year, the entity sold for cash 100,000 shares with P20 par for P30 per share. Dividend of P4,500,000 was paid in cash. The entity borrowed P4,000,000 from the bank and paid off note of P1,000,000 and interest of P600,000. The entity had no other loan payable. Interest of P400,000 was payable on December 31. Interest payable on January 1 was P100,000. Equipment of P2,000,000 was donated by shareholder during the year. What was the net Cash Accounts receivable Inventory Investments Equipment Accounts payable Bonds payable P3,000,000 (800,000) 2,000,000 income for the year?
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