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

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter2: Basic Accounting Systems: Cash Basis
Section: Chapter Questions
Problem 6CDQ: Capstone Consulting Services acquired land 5 years ago for $200,000. Capstone recently signed an...
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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?

 

  1. P150,000
  2. P160,000
  3. P270,000
  4. P330,000
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