ACCOUNTS PAYABLE P60,000 ACCOUNTS RECEIVABLE P10,000 BUILDING ? CASH P30,000 EQUIPMENT P70,000 ARLYN VILLANUEVA, CAPITAL ? LAND P70,000 IF THE BALANCE OF THE BUILDING ACCOUNT WAS P80,000 AND P30,000 OF ACCOUNTS PAYABLE WERE PAID IN CASH, WHAT WOULD BE THE TOTAL LIABILITIES AND OWNER’S EQUITY? P140,000 P180,000 P190,000 230,000

ACCOUNTS PAYABLE P60,000 ACCOUNTS RECEIVABLE P10,000 BUILDING ? CASH P30,000 EQUIPMENT P70,000 ARLYN VILLANUEVA, CAPITAL ? LAND P70,000 IF THE BALANCE OF THE BUILDING ACCOUNT WAS P80,000 AND P30,000 OF ACCOUNTS PAYABLE WERE PAID IN CASH, WHAT WOULD BE THE TOTAL LIABILITIES AND OWNER’S EQUITY? P140,000 P180,000 P190,000 230,000

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter18: Accounting Periods And Methods

Section: Chapter Questions

Problem 10DQ

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ACCOUNTS PAYABLE P60,000 ACCOUNTS RECEIVABLE P10,000 BUILDING ? CASH P30,000 EQUIPMENT P70,000 ARLYN VILLANUEVA, CAPITAL ? LAND P70,000 IF THE BALANCE OF THE BUILDING ACCOUNT WAS P150,000 AND THE EQUIPMENT WAS SOLD FOR P70,000 WHAT WOULD BE THE TOTAL OF OWNER’S EQUITY? P150,000 P160,000 P270,000 P330,000
ACCOUNTS PAYABLE P60,000 ACCOUNTS RECEIVABLE P10,000 BUILDING ? CASH P30,000 EQUIPMENT P70,000 ARLYN VILLANUEVA, CAPITAL ? LAND P70,000 IF THE BALANCE OF THE VILLANUEVA, CAPITAL ACCOUNT WAS P210,000, WHAT WOULD BE THE BALANCE OF THE BUILDING ACCOUNT? P250,000 P40,000 P90,000 210,000
Clint M. Invests $30,000 into Merle Company. The Effect to Assets would be: Clint M. Invests $30,000 into Merle Company. The effect to Liabilities would be: Clint M. invests $30,000 into Merle Company. The effect to Equity would be: Merle Company purchased a piece of equipment for $5,000 on account. The effect to Assets would be: Merle Company purchases a piece of equipment for $5,000 on account. The effect to Liabilities would be: Merle Company Purchases a piece of equipment for $5,000 on account. The effect to Equity would be: Merle Company pays $1,000 for this month’s rent in cash. The effect to Assets would be: Merle Company pays $1,000 for this months rent in cash. The effect to Liabilities would be: Merle Company pays $1,000 for this month’s rent in cash. The effect Equity would be: Merle Company earns $9,000 from services preformed. The effect to Assets would be: Merle Company earns $9,000 from services preformed. The effect liabilities would be: Merle…
Clint M. Invests $30,000 into Merle Company. The Effect to Assets would be: Clint M. Invests $30,000 into Merle Company. The effect to Liabilities would be: Clint M. invests $30,000 into Merle Company. The effect to Equity would be: Merle Company purchased a piece of equipment for $5,000 on account. The effect to Assets would be: Merle Company purchases a piece of equipment for $5,000 on account. The effect to Liabilities would be: Merle Company Purchases a piece of equipment for $5,000 on account. The effect to Equity would be: Merle Company pays $1,000 for this month’s rent in cash. The effect to Assets would be:
Super Services had the following balance sheet accounts and balances: Accounts Payable P60,000, Accounts Receivable, P10,000,Building (?), Cash, P30,000, Equipment , P70,000, B. Santos, Capital (?), Land P70,000. If the balance of the B. Santos, Capital account was P210,000, what would be balance of the building account? *
need asap Given: FABM Company, a service firm rendering computerizedaccounting services has the following transactions for themonth of June 2018:June 1Owner invested his savings worth P10, 000, 000 intothe business.June 3He bought P1.5 M worth of equipmentJune 5He also invested furniture and fixtures with 250,000June 7Rendered services to clients worth 150, 000 andreceived cash payment immediatelyJune 10Rendered services to clients worth 250, 000 onaccountJune 12Purchased computer supplies amounting to 30,000and issued a promissory noteJune 14Rendered services to clients worth 650, 000 withterms 50% down, balance on accountJune 15Paid salaries of employees worth 45,000June 18Collected half of the amount due last June 10June 20Paid the total amount due for utilities amounting to55, 000June 22Cash receipts amounting to 75,000 from cash salesservicesJune 24Paid the whole amount due on the noteJune 26Paid Philhealth contribution of the employeesamounting to 5,000June 28Borrowed P150,000…
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Using the extract below, calculate the amount oftotal current assets and type your amount in the space provided below Account Name Amount Cash $10,000 Buildings $75.000 Accounts payable $25,000 Loans payable within one year $15.000 Account receivables $55.000 Plant and equipment $30,000 Inventories $60.000 Revenue received in advance $120.000
7: Purchased a building with a market value of $ 120 comma 000$120,000, and land with a market value of $ 24 comma 000$24,000. The business paid $ 45 comma 000$45,000 cash and signed a note payable to the bank for the remaining amount I'm confused as too which is credit and how to add the answer to the balance sheet etc.
Purchasing a building for $115,000 by paying cash of $25,000 and signing a note payable for $90,000 willa. decrease total assets and increase total liabilities by $25,000.b. increase both total assets and total liabilities by $115,000.c. decrease both total assets and total liabilities by $25,000.d. increase both total assets and total liabilities by $90,000.
Calculate the DuPont Model, given the following balances: Year 1 data Cash R16,080 Accounts receivable R9,500 Prepaid R3,150 Supplies R675 Equipment R25,200 Accumulated depreciation equipment R8,150 Year 2 data Cash R20,000 Accounts receivable R15,000 Prepaid R1,175 Supplies R2,675 Equipment R89,057 Accumulated depreciation equipment R36,800; Equity R82,600 Net sales R325,000 Net income of R56,824 Assume sales revenue and net sales are the same.
Find out value of account receivable from following Cash P48,000 accounts payable P33,000 office equipment P21,000 owner equity P77,000? a. P110,000 b. P15,000 c. P41,000 d. P21,000