4. If the balance of the Building account was P1,400,000 and P300,000 of Accounts Payable were paid in cash, what would be the balance of the Langga, Capital account? a. P2,100,000 b. P2,600,000 c. P3,200,000 d. P3,400,000 5. If the balance of the Building account was P800,000 and P300,000 of Accounts Payable were paid in cash, what would be the total liabilities and owner's equity? a. P1,400,000 b. P1,800,000 c. P1,900,000 d. P2,300,000

4. If the balance of the Building account was P1,400,000 and P300,000 of Accounts Payable were paid in cash, what would be the balance of the Langga, Capital account? a. P2,100,000 b. P2,600,000 c. P3,200,000 d. P3,400,000 5. If the balance of the Building account was P800,000 and P300,000 of Accounts Payable were paid in cash, what would be the total liabilities and owner's equity? a. P1,400,000 b. P1,800,000 c. P1,900,000 d. P2,300,000

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 8QY: What is the amount of ending capital shown on the balance sheet for Floress Catering? a. 22,000 b....

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The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is as follows: 1 Dec. 31, 20Y3 Dec. 31, 20Y2 2 Assets 3 Cash $155,000.00 $150,000.00 4 Accounts receivable (net) 450,000.00 400,000.00 5 Inventories 770,000.00 750,000.00 6 Investments 0.00 100,000.00 7 Land 500,000.00 0.00 8 Equipment 1,400,000.00 1,200,000.00 9 Accumulated depreciation-equipment (600,000.00) (500,000.00) 10 Total assets $2,675,000.00 $2,100,000.00 11 Liabilities and Stockholders’ Equity 12 Accounts payable (merchandise creditors) $340,000.00 $300,000.00 13 Accrued expenses payable (operating expenses) 45,000.00 50,000.00 14 Dividends payable 30,000.00 25,000.00 15 Common stock, $4 par 700,000.00 600,000.00 16 Paid-in capital: Excess of issue price over par—common stock 200,000.00 175,000.00 17 Retained…
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